Foster's to split beer and wine divisions

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Australia's largest brewer Foster's is to separate its struggling wine arm from its beer business.

Foster's wine business is the world's second largest after Constellation Brands, but earnings from wine, which accounted for two-fifths of the group's total by 2007, have fallen heavily.

The company hopes the move will make it A$100m in annual savings from 2011.

Julia Caesar reports.

READ MORE: Foster's beer and wine to split

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