Allens Arthur Robinson (Allens) has advised iconic brewing company Foster’s Group Limited (Foster’s) on its proposed takeover by Anglo South African brewer SABMiller for A$12.3 billion, via a scheme of arrangement.
The world’s second largest brewer, SABMiller, first expressed interest in the Australian company, best known for making VB and Carlton Draught, in June.
The amount payable to Foster’s shareholders under the deal, which was agreed on 21 September, represents a 13 per cent increase on SABMiller’s original cash offer and comprises $5.10 in cash and a 30 cent capital return. A 13.25 cent per share dividend is also part of the package.
The Allens team, led by Partners Ewen Crouch and Robert Pick, worked closely with Foster’s throughout the entire process.
Mr Crouch said that the SABMiller deal continues Allens’ corporate team’s long history of working on high profile, complex global transactions.
‘The breadth and depth of our team means we’ve always been able to quickly respond to clients’ needs across a range of industry sectors’, Mr Crouch said.
‘We’re frequently talking to companies about the “what if” scenarios around M&A, but when these transactions happen, you have to be able to get the right people in place quickly.’
Mr Pick said that following the deal’s announcement, the team will continue to work with Foster’s until the necessary approvals are met.
‘We’ve been working on this transaction for a number of months and we’ve enjoyed the opportunity to work alongside the Foster’s team,’ Mr Pick said.
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