DJ MARKET TALK: Tsingtao, Bright Food Looking At Foster's...

DJ MARKET TALK:
Tsingtao, Bright Food Looking At Foster's -Report



2359 GMT [Dow Jones] According to reports, China's Tsingtao Brewery Co. (0168.HK) and Bright Food (Group) Co. are looking at Foster's Group's (FGL.AU) assets after FGL announced a demerger late last month. China's state-run Economic Observer says Tsingtao is interested in Foster's beer business, citing unnamed sources.
Separately, Bright Food, which bid for CSR's (CSR.AU) Australian sugar ops earlier this year, is studying Foster's wine and beer assets and conducting due diligence on the businesses through investment banks, the report said, citing an unnamed source. Foster's separation of its beer and wine units, which will result in separate stock listings for each, comes amid ongoing consolidation in the global brewing sector. The move immediately prompted speculation about takeover bids but the company said at the time it was not in talks about a sale for either of its units. FGL spokesman not immediately available for comment and didn't return a call late Tuesday.