AUSTRALIA: Hardy pulls out of wine investment fund
Hardy Wine Company has sold its 15.64% stake in the International Wine Investment Fund. The move came about due to compliance issues arising following the wine company's merger with Constellation in March 2003.
The sale, valued at A$20m, was processed through broker AMRO Morgans Corporate Ltd. The shares were placed with "professional and sophisticated investors" in Australia and overseas, said chief executive designate of the fund Ian Macoun.
"We understand the reasons for the sale of their holding in the Wine Fund and look forward to an ongoing co-operative relationship in the future", he said.
Hardy was the fund's largest holder after buying its stake in July 2003. Merchant bank Grant Samuel bought the stake in 1999 to protect the then-BRL Hardy from a hostile bid.
A consortium led by Constellation Brands has made a tentative approach for Allied Domecq....
The Board of Directors of Constellation Brands, Inc. has declared a quarterly dividend on the company's 5.75% Series A Mandatory Convertible Preferred Stock, payable on 1 June, to shareholders of reco...
Constellation is expected to launch a counter-bid for Allied Domecq by the end of this month, according to press reports....
The Hardy Wine Company has posted a record grape harvest....
Constellation Brands is to launch a new Australian wine brand onto the US market through its North Lake Wines. The wine will be called Kelly's Revenge....
A host of drinks companies spent the weekend mulling over whether to launch counter-bids for Allied Domecq, according to press reports over the last few days....
This weekend's press reports have thrown up two other interested parties in the potential Allied Domecq carve-up....
Constellation Brands is interested in some of Allied Domecq's spirits brands, according to reports today (15 April)....
- Chile's winemakers caught out by Brexit "disease"
- What's coming up in beer in 2017? - Comment
- Interview - Pernod Ricard's luxury director
- The just-drinks Analyst - 2017 forecasts
- What's coming up in wine in 2017? - Comment
- Suntory sends staff to fat camp - report
- Diageo Australia names new commercial head
- Pernod Ricard's Absolut Lime - NPD
- Former Stoli Group CEO joins Perfect Vodka owner
- US craft beer growth slows again - IRI figures
- Global vodka insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global gin insights - market forecasts, product innovation and consumer trends
- Darker Than Before: Global Prospects for Brown Spirits