17 Dec 2011

Foster's takeover complete

5:41 am on 17 December 2011

The $A12.3 billion takeover of Foster's is complete, with SABMiller acquiring all ordinary shares in the Australian brewer as required for the deal.

All current directors of Foster's have resigned and a new management team has been appointed.

The ABC reports Fosters will soon apply to be delisted from the Australian Securities Exchange.

Shares were suspended from trading on the ASX on 2 December.

The company says Foster's shareholders will receive their payments by Wednesday.

Foster's brands include VB, Carlton Draught and Crown.