Foster's Group Limited (Foster's) today announced that it had sold its ten per cent shareholding in Australian Leisure & Hospitality Group Limited (ALH) to Bruandwo Pty. Limited (Bruandwo) pursuant to its unconditional offer of $3.76 per ALH share dated 26 October 2004.
Following the listing of ALH on the Australian Stock Exchange on 7 November 2003, Foster's purchased 35.25 million shares in ALH at an average price of $2.17 per share as part of market stabilisation activities.
In reaching a decision to dispose of the company's shareholding in ALH, the directors of Foster's considered Bruandwo's substantial shareholder notice dated 27 October 2004, the recommendation of the ALH board and announcements on behalf of CMM Hotel Retail & Hotel Investments.
Media
Lisa Keenan
Tel: +613 9633 2265
Mob: 0409 150 771
Investors
Robert Porter
Tel: +61 3 9633 2560
Mob: 0407 391 829
