TREVOR O’HOY: WE NEED TO RAISE SOME CAPITAL
If Foster’s seriously wants to purchase the privately-owned New Zealand Independent Liquor company, it’s going to have to raise a little capital, says Foster’s ceo Trevor O’Hoy.
Chief executive Trevor O'Hoy wouldn't confirm to Dow Jones if Foster's has bid for Independent, but he did point out that some more money is in order if Foster’s is going to compete with the likes of Diageo and Lion Nathan.
"I am just saying what we have said all along, that we are interested in the process," he told reporters.
"If we were to participate in that we would have to raise capital."
Bids for Independent Liquor are due to close Wednesday, with companies tipped to offer about A$1 billion.
FOSTER’S NOT GOING ANYWHERE. And by the way, Foster’s isn’t for sale. O’Hoy reiterated once again that the company had not been approached by any private equity firms or any other potential suitors, despite takeover speculation that has driven Foster's shares up 26% between August and November.
Chief executive Trevor O'Hoy wouldn't confirm to Dow Jones if Foster's has bid for Independent, but he did point out that some more money is in order if Foster’s is going to compete with the likes of Diageo and Lion Nathan.
"I am just saying what we have said all along, that we are interested in the process," he told reporters.
"If we were to participate in that we would have to raise capital."
Bids for Independent Liquor are due to close Wednesday, with companies tipped to offer about A$1 billion.
FOSTER’S NOT GOING ANYWHERE. And by the way, Foster’s isn’t for sale. O’Hoy reiterated once again that the company had not been approached by any private equity firms or any other potential suitors, despite takeover speculation that has driven Foster's shares up 26% between August and November.
posted at 1:04 PM
<< Home