Tag Archive | "constellation Brands inc"

ACCC Receives Merger Proposal From Wine Groups

ACCC Receives Merger Proposal From Wine Groups

US wine and spirits maker Constellation Brands Inc and Sydney-based wine company Australian Vintage Ltd have lodged a submission with the Australian Competition and Consumer Commission (ACCC) for clearance on their proposed merger. The two parties have been in discussions over combining part of Constellation's Australian and UK wine operations with Australian Vintage in exchange for a non-controlling, 50 per cent equity stake in the combined entity. In a statement to the market on Monday, Australian Vintage said that the submission has been made ahead of any binding deal between the companies. Constellation, owner of Robert Mondavi wines, flagged its intention to sell or merge a part of its Australian and UK wine operations in November. [...more]

News, Wines Comments (0)

Friday, November 17, 5:39 pm

Search by Tag