10 May, 2006

India: Foster's has reopened an auction to sell its brewing assets in India

Foster's has reopened an auction to sell its brewing assets in India after Heineken failed to close a deal, The Financial Times reported.

In its online edition, the newspaper said Heineken was understood to have been close to acquiring the Australian company's brewery in Aurangabad but talks collapsed.

The paper said Heineken declined to comment.

The Dutch brewer wants to develop a bigger presence in India to cash in on rising demand for beer in the region, the paper said.

Heineken already has a share in India's Tiger beer brand through its joint venture with Asia Pacific Breweries.

Foster's is selling off its Asian assets to concentrate on its wine business and domestic beer operations, the report said.

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