Cerberus misses Foster's wine business, TPG, KKR in frame
Cerberus Capital Management, the US buyout firm specializing in turnaround investments, was the private equity firm that offered to buy 100% of the Treasury Wine Estates unit of Australia’s largest beer maker, Foster's Group, for up to $2.5 billion, with other interested parties believed to include Kohlberg Kravis Roberts & Co and TPG Capital.
All of the named PE firms were understood to have offered a proposal to Foster's. The company said earlier this week that it rejected a private equity offer worth up to $2.5 billion for its wine business...
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