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10 banks hired by SABMiller for Foster's takeover

email this aricle - 10 banks hired by SABMiller for Foster's takeover  - 26 August 2011 print this article - 10 banks hired by SABMiller for Foster's takeover  - 26 August 2011
10 banks hired by SABMiller for Foster's takeover
The second largest brewer in the world by volume has hired ten banks in an effort to assist its proposed takeover of Foster's Group.

SABMiller is aiming to generate $12.5 billion in loans for its hostile bid for the company - which employs around 2,300 people and sells its products in 45 countries across the globe - an individual familiar with the matter told Bloomberg.

Institutes involved in the deal - which is set to be the most sizeable financing by a European firm since October 2010 when Sanofi-Aventis was handed $15 billion while trying to purchase Genzyme Corp - include Royal Bank of Scotland Group, Morgan Stanley and JPMorgan Chase, with these lenders each expected to underwrite $1.25 billion.

Other banks involved in the agreement include Barclays Capital, Bank of America Merrill Lynch, Citigroup, Banco Bilbao Vizcaya Argentaria SA, Banco Santander SA, Mizuho Financial Group and Bank of Tokyo-Mitsubishi.

By Gary Cooper

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