AUSTRALIA: IWIF expects positive vote
Australia's cashed-up and listed International Wine Investment Fund says it expects unitholders to vote for it to continue operations at a meeting later this month.
Chris Day, chief executive of Berren Asset Management, which runs the Fund said he expected more than 50% of unitholders to vote for continuation and much less than 50% to vote for winding it up.
IWIF was the major shareholder in BRL Hardy with 18.3 million shares. Following BRL Hardy's takeover by Constellation Brands, IWIF has assets of A$288m (US$192.7m) including A$143m in cash, A$80m in Constellation scrip and A$92m in wine businesses in Australia, Europe and the US.
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