Bar set at $3.1bn for Foster's wine assets
on 10/09/10 at 4:54 pmIndustry
PRIVATE equity investors will need to bid at least $3.1 billion for Foster’s wine business, according to analysts.
They may also need to join forces with another buyer willing to take the beer division.
Foster’s on Wednesday revealed it had turned down an offer of between $2.3bn and $2.7bn from a US private equity firm, believed to be Cerberus Capital, for the Treasury Wine Estates division.