Heineken-Foster's rumors denied

Dutch giant says it has not bid for Australian brewing group

May 10, 2001 - Dutch brewing giant Heineken and Australia's Foster's have denied rumors that Heineken put in a bid for Foster's Brewing Group.


"Heineken took note of the recent press coverage (about Foster's) and states that we are not negotiating with Foster's,'' spokesman Albert Holtzappel told Reuters. Reuters also quoted a source close to the company as saying, "Heineken is establishing its own brand, as a premium brand, in Australia. Why would they want Foster's?''

Foster's has been the subject of takeover rumors before because of its solid distribution network and strong brands both at home and internationally. "It just reinforces the fact that Foster's will remain a target -- if it is not Heineken, could it be someone else?'' said Robert Hook, an inustry analyst.

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