Australia approves Foster's takeover

The Austrialian treasurer Wayne Swan has approved a takeover of local brewery Foster's by SABMiller, subject to undertakings.

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The Austrialian treasurer Wayne Swan has approved a takeover of local brewery Foster's by SABMiller, subject to undertakings.

SABMiller said it expected the acquisition to be completed by the end of 2011.

Foster's brands include Cascade and Crown lager plus Australian rights to Asahi, Corona and Stella Artois.

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