Australia's Foster’s Brewing International has acquired a 40 percent equity interest in African & Eastern (A&E), a Dubai-based holding company, which markets and distributes alcoholic beverages throughout the Arabian Gulf region. The final purchase price is subject to confidentiality as part of the acquisition agreement but is less than $18 million.
Through the acquisition, Foster’s Brewing International will secure management control of A&E Dubai and A&E Oman. The equity investment is expected to provide Foster’s with further growth opportunities to develop its beer, wine and spirits brands in the region. The acquisition has become effective on December 13, 2002 and will be EPS positive and shareholder value accretive in year one. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
