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United Malt raises $140m as beer sales go flat

Brad Thompson
Brad ThompsonReporter
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United Malt Group is raising $140 million to strengthen its balance sheet after taking a hit from a drop in beer consumption during COVID-19 shutdowns across its global markets.

The newly listed maltster noted a 30 per cent drop in demand in April with pubs and other hospitality and entertainment venues closed for business.

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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com
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    Original URL: https://www.afr.com/companies/manufacturing/united-malt-raising-140m-as-beer-sales-go-flat-20200514-p54suo