E-Malt.com News article: Australia: Foster's completes $100 million on-market share buy-back

Foster's Group Limited (Foster's) has successfully completed its $100 million on-market share buy-back, according to company’s media centre, November 30.

Foster's bought back 15,950,793 shares at prices between $6.06 and $6.43 per share - at an average price of $6.27 per share.

The $100 million on-market buy-back completes the $350 million capital management program announced in August 2007.

The program has allowed Foster's to effectively manage its capital structure in line with its current investment credit grade rating and is consistent with its intention to remain in a position to fully frank dividends for the foreseeable future.

Goldman Sachs JBWere was engaged to act as broker in connection with the on-market buy-back.


30 November, 2007