Foster's sparks wine arm sell-off

 

Foster's last night fired the starting gun on the demerger of its host of well-known lagers from their unsuccessful marriage with the wine business.

The Australian firm - which makes the beer that bears its name, Victoria Bitter and Carlton Draught - is publishing a cost-benefit assessment revealing previously undisclosed figures, that bidders are expected to pore over.

The move will spark a race for the two divisions, which includes its Treasury Wine Estates arm, maker of Penfolds, Wolf Blass, and Rosemount.

SABMiller is understood to be taking a close look at the beer business.