Australia's Lion Nathan eyes 200 mln aud share buyback - report |
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Published
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Sun, 04 Feb 2007 23:39
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SYDNEY (XFN-ASIA) - Lion Nathan Ltd is likely to announce a 200 mln aud share buyback on Thursday when it gives a first quarter trading update, the Australian Financial Review reported without citing sources.The brewing and wine group, 46 pct-owned by Japan's Kirin Brewery Co Ltd, last year suspended a buyback of up to 5 pct of its issued capital while it vied for the 1.1 bln aud New Zealand ready-to-mix spirit business, Independent Liquor.Lion Nathan withdrew from the bidding process in December, saying it was unwilling to raise its 1bln aud offer.Independent was eventually sold to private equity firms CCMP and Pacific Equity Partners.A Lion Nathan spokesman declined to comment on the possibility of a share buyback.Lion Nathan closed up 0.21 aud at 8.43 on Friday, capitalizing the company at 4.50 bln aud.(1 usd = 1.29 aud)bruce.hextall@xfn.comblh/mas
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National Australia Bank increases share buyback to 1.2 bln aud 