Japanese beer maker Asahi Breweries Ltd (2502.T) denied on Monday a newspaper report that it was considering a partnership with Foster's Group (FGL.AX) to enter the Australian alcoholic drinks sector.
The Age newspaper, reporting on the possibility, said Asahi was likely to wait until Foster's, which already distributes Asahi beer, completes a review of its operations.
If the beer business was spun off, Asahi is believed to be considering a partnership beyond the distribution contract, the article said, without giving a source.
On Wednesday, British confectionery maker Cadbury Plc (CBRY.L) agreed to sell its Australian beverage business to Asahi for 550 million pounds.
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