AUSTRALIA: Palandri fails to find funding for acquisition
Palandri's lawyer, Mr Gus Irdi, quoted in the daily Australian Financial Review, said it had failed to secure anticipated funding from London institutions but remained confident of raising the capital for this purchase and that of two other wineries in South Eastern Australia.
It is believed that Palandri's bid for the Amberley Estate was around A$25m (US$13m).
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