Fosters facing A$21m loss
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Fosters Brewing Group said it will post an abnormal loss of A$21m for the year to June 1995 due to the refinancing of UK-based Phoenix Inns.
The company said in a statement to the Australian Stock Exchange: "Phoenix was funded by bank finance guaranteed by (Fosters) and GrandMet. The refinancing of Phoenix by Nomura has released Fosters from that guarantee,"
The guarantees were provided for the funding of Phoenix Inns, when it acquired 1,750 "free of tie" pubs in January from Foster's Inntrepreneur Estates venture with Grand Metropolitan, the company said.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments