AUSTRALIA: IWIF takes cash entitlement from BRL takeover
The IWIF said it would accept A$142m (US$85m) in cash and A$50m in Constellation scrip for its remaining 18.3 million shares. The cash will apparently be used to pay debt and provide a distribution to unit holders, but the scrip offer was attractive under conservative forecasts, Wine fund manager Berren Asset Management said.
The wine fund has already accepted gross proceeds of A$22m from the closing out of exchange traded options and trading portfolio shares since the merger was announced. A general meeting of unit holders is now to be held in July, which will decide the future of the fund. "The meeting's agenda will include future investment strategies and the option of winding up the wine fund," Berren said in a statement.
Companies: Constellation Brands
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)....
- Why sports drinks fail to ride the Olympic wave
- Experienced hands hold firm at CCEP - Analysis
- What do US wholesalers think of spirits trends?
- It isn't just men who like beer - Comment
- How the craft economy is loosening alcohol laws
- Luxury and e-commerce a "natural fit" - Diageo
- Diageo merges US, Canada spirits units
- "We're not complacent about Brexit" - Diageo
- Diageo Australia's commercial head to step down
- Johnnie Walker's Bourbon bent "coincidental"
- Global gin insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global rum insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends