Asahi Breweries and SABMiller are interested in operating in the Australian beer Foster's Group, valued over 10 billion dollars (7.9 billion euros), but no formal offer has yet been made, it was Monday learned from sources close to the matter.
The Sunday Times reported Sunday that SABMiller, the second brewer in the world, was considering acquiring the operations of Foster's in beer for about seven billion pounds (8.6 billion euros).
One source interviewed by Reuters said Monday that Asahi was also interested. The Japanese brewer benefit from the advice of Nomura and Rothschild on this issue. Asahi did not wish to make comments.For his part, said SABMiller had no comment on Foster's and added that no announcement was planned for Monday.
The managers are divided on the possibility of the emergence of an offer to purchase before the formal split in 2011, activities of wines from those of Foster's beer.
"We remain skeptical about the possibility that an offer to intervene before the split in the beer business scheduled for early 2011," says Ian Shackleton at Nomura in London.
Analysts said the group's activities in the Australian beer may attract other beverage producers, such as Molson Coors, which already owns 5% of Foster's, Coca-Cola Amatil.
PURCHASE AN UNLIKELY IN NEAR FUTURE
According to data compiled by Thomson Reuters, an acquisition of the Foster's beer in which generate margins among the highest in the industry, would be the second largest deal this year in the area of food and beverages.
Rumors have redemption under Foster's to move in volumes three times the average of last 30 sessions and close a jump of 7.6%.The action Asahi also ended higher (0.62%), while in mid-day 0.41% SABMiller took in London.
However the cost of protection to five years against a default on its debt British brewer has increased by 21 basis points (bps) to 96 bps.
In response to press reports, Foster's, which owns brands including Foster's Lager, Victoria Bitter and Pure Blonde, said he was unaware of any unexpected information.
Foster's analysts value at about 13 times its expected profits but largely on the value of the Australian group is linked to its activities in beer, while its wine industry is struggling.
"(A takeover) is very unlikely in the near future but once the separation takes place, there will be some interest," said Daniel Nelson, an analyst with Constellation Capital.
"In terms of margins, is a highly profitable market, and the cash could be used to finance certain ambitions in developing markets."
The Australian press announcement Monday that his side SABMiller has appointed JPMorgan and Royal Bank of Scotland to advise on this issue but no decision has yet been taken.
The president of Asahi, Naoki Izumiya, said in August that his group planned to dispose of nearly 7.2 billion euros for acquisitions over the next five years, eyeing assets in Asia and Oceania.
SABMiller, which owns the rights to brew Foster's in the U.S. and India, produces about 85% of its profits in emerging Latin America, Africa and Asia.