One of Australia's oldest and most recognised global brand names is being sold offshore.
Foster's has agreed to a $A12.3 billion takeover offer made by SABMiller, an Anglo-South African brewer.
Radio New Zealand's Sydney correspondent says it was second time lucky for SABMiller.
The London-based company was knocked back by Foster's in June when it offered $A4.90 per share.
But it then came back with a sweetened offer of $A5.10 per share, plus a capital return of 30 cents and a 13 cent final dividend.
That was enough to seal the deal, which means a 150-year-old Aussie company with brands like Victoria Bitter, Crown and Carlton Draught is now going offshore.
Radio New Zealand's correspondent says it marks a sad end for Foster's, which earlier this year separated its beer division from its underperforming wine assets.
And it means Australia's brewing industry is now owned almost entirely by foreigners after the sale of Lion Nathan to Kirin of Japan two years ago.
