Foster's Brewing Group Limited today announced that its 35 cents per share cash offer for Wine Planet Holdings Limited by its wholly-owned subsidiary Cellarmaster Wines Pty Limited has been declared final and unconditional.
Foster's said the decision to go final and unconditional followed a strong response to its 35 cents offer from Wine Planet shareholders.
Cellarmaster's shareholding in Wine Planet is now more than 87.5%.
Foster's has also now assumed control of the Wine Planet Board.
Foster's President and CEO, Mr Ted Kunkel, said: "We are delighted with the excellent response to our offer and believe that removing the conditions and declaring the offer price final will give remaining Wine Planet shareholders a strong incentive to accept the offer and receive payment."
Cellarmaster's offer is due to close on Friday, 11 May, 2001.
Further Information
Media:
Nicole Devlin
Tel: +613 9633 2261
Mob: 0418 202 375
Email: nicole.devlin@fostersgroup.com
