COCA-COLA AMATIL NOT BIDDING FOR FOSTER’S

Foster’s Group announced last month that CEO Trevor O’Hoy was stepping down amidst a $700 million write-down after the company admitted it had paid too much for the Beringer and Southcorp acquisitions. As a result, some analysts have speculated that Foster’s may consider selling its wine business in order to focus exclusively on its still profitable beer business, while others say Foster’s is not in the position to sell.

Coca-Cola Amatil ceo Terry Davis told The Australian that the company is not seriously looking at Foster’s because it has too many operational issues to consider a bid at this stage.

"You can never say never, but at this price I can say we will not bid for Foster's," Davis was quoted as saying.

Davis has reportedly said on several occasions that he does not believe beer and wine go well together.