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SABMiller loses Corona licence in Australia

Mar 09 2012 11:37 Reuters

Company Data

SABMILLER PLC [JSE:SAB]

Last traded 599.50
Change 1.6
% Change 0.00
Cumulative volume 515955
Market cap 1.00tr

Last Updated: 29/07/2014 at 04:25. Prices are delayed by 15 minutes. Source: McGregor BFA

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London - Global brewer SABMiller [JSE:SAB] said its newly-acquired Foster’s business has lost a licence to import and distribute Corona Extra lager in Australia.

Mexican brewer Grupo Modelo, which makes Corona, told SABMiller it was terminating Foster’s licence following its acquisition by SABMiller in December last year.

That deal combined Foster’s with SABMiller’s premium lager brands in Australia, including Peroni, Miller Genuine Draft and Grolsh.

Around 600 000 hectolitres of Corona Extra were sold in Australia in 2011, compared with the overall lager market of 18 million hectolitres.

SABMillier said in a statement on Friday that its expected financial returns from the Foster’s takeover would be broadly unchanged.
australia  |  foster's  |  sabmiller
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