US brewing major Molson Coors yesterday declared it had built up a 5 per cent stake in Foster's Group and gave strong indications it had designs on the company's beer division.
Foster's bought an equity stake in Carling O'Keefe in 1987, and remained an equity partner following the merger with Molson until 1998, when it sold out to Molson for $1.1 billion and the North American rights to the Foster's brand.
The US licence has since moved to Britain-based brewer SABMiller, but Molson retains rights to brew, market and distribute the Foster's brand in the Canadian market.
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