SAB Miller To Pay Extra A$582 Million For Foster's After Tax Ruling
2011年11月18日 - 4:29PM
Dow Jones News
SABMiller PLC (SAB.JO) will have to pay an extra A$582 million
as part of its takeover of Foster's Group Ltd. (FGL.AU), after the
Australian Taxation Office knocked back the planned structure of
the deal.
Foster's said that shareholders would receive A$5.40 per share
in the transaction, a 5.5% increase on the original A$5.10 per
share. However, a capital return that was to have taken place
alongside the takeover, returning 30 cents per share to
shareholders, will now not take place.
"Foster's today announces that, after discussions with the
Australian Taxation Office over recent weeks it has not been able
to obtain, on terms satisfactory to both Foster's and SABMiller
PLC, a class ruling from the Australian Commissioner of Taxation in
relation to the capital return proposed as part of the transaction
with SABMiller," the company said in a statement.
The capital return method would have reduced the tax bill on the
transaction.
Foster's shareholders will vote on the takeover at a meeting on
Dec. 1. The Foster's board said it continued to back unanimously
the takeover.
-By David Fickling, Dow Jones Newswires; +61 2 8272 4689;
david.fickling@dowjones.com
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