AUS/FRANCE: LVMH eyes Treasury Wine Estates bid - report
TWE has been the subject of much speculation around potential buyers
The Australian Financial Review has reported that the French group is eyeing a full offer for the troubled wine firm, or a bid for TWE's Penfolds brand as part of a consortium. It comes as TWE's CEO announced today (25 June) more details of plans to restructure the struggling business.
A spokesperson for Moet Hennessy, the wine and spirits division of LVMH, declined to comment when contacted by just-drinks.
The report also suggests Constellation Brands could bid for TWE in a consortium with a US buy-out firm. Last month, the Australian company denied it was talks to sell its US arm to Constellation.
Last month, TWE rejected a US$2.85bn takeover offer from private equity firm Kohlberg Kravis Roberts & Co. At the time a statement from the firm said: "The board of TWE remains focused on maximising shareholder value and will carefully consider any future proposal that is consistent with this objective."
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