The auction of Foster's Art Collection which took place at Sotheby's in Melbourne last night, produced an outstanding result for Foster's with 100% of the collection being sold for a record-breaking amount.
The sale raised $14.6 million, the largest amount ever generated from the sale of a corporate art collection.
Trevor O'Hoy, President and CEO, Foster's Group Limited, commented that the auction of Foster's art collection marked a symbolic day for Foster's.
"Foster's made the decision to sell its art collection late last year as it was no longer seen as a strategic fit. The sale of the collection reinforces our focus on becoming a truly global premium beverages company."
"We are pleased with the results from the auction. This is a great result for Foster's shareholders, as well as for the Australian art community," said Mr O'Hoy.
For further information about Sotheby's and the auction, visit their website, http://www.sothebys.com/,
call them on +61 3 9509 2900 or
email:australia@sothebys.com
