Aus: Australia's Wine Fund closes on potential FF40m deal in Chablis
An initial FF5m investment in a premium wine producer/distributor, believed to be headquartered in Chablis in France, is expected to be announced soon by the Australian Wine and Horticultural Fund.The Fund - to be renamed The International Wine Investment Fund from tomorrow (Wednesday) - is planning to eventually lift the investment to FF40m.The investment is likely to be the Fund's first since a controversial major restructure, opposed in its initial forms by institutional investors, earlier this year.The Fund, which is BRL Hardy's major shareholder with 13% of the stock, is also close to finalising a $A5m investment which will give it a 10% stake in the recently merged Tatachilla-St Hallet winery.It is also about to invest another $A5 million in five vineyards in four States. The Fund has also redeemed $A6m of convertible notes in Australia's dominant fruit juice producer, Berri Ltd, and is preparing to shed its stakes in Chiquita Brands South Pacific and almond producer Select Harvests.Chris Snow
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Cannabis – A clear and present danger to alcohol
- Is Irish whiskey ready to recognise its potential?
- Interview - Bernstein analyst Trevor Stirling
- Global Travel Retail - What is the Grey Market?
- The European beer market - Focus
- Diageo appoints first programmatic marketing head
- Corporate Relations Director to leave Diageo
- Bacardi names new global communications head
- Diageo strike threat postponed with fresh vote
- Pernod Ricard pairs Usain Bolt with Mumm Champagne