AUSTRALIA: Southcorp rejects brand sale speculation
Earlier this week Foster's CEO Ted Kunkel said his company would be interested in any brands Southcorp put on the market, prompting rumours that Southcorp was putting Wynns and Seaview up for sale.
But Lambert said: "We do not have any brands for sale."
Lambert was speaking at his first presentation to the press as CEO of Southcorp, which recently merged with fellow Oz winemaker Rosemount.
During the presentation Lambert assured analysts and the press that Australian wine sales were recovering from a downturn in early 2001.
He said: "March and April were a bit soft but May and June were much better and I think we're finding trading has picked up in the final quarter ending June."
Lambert said Southcorp brands had experienced a slight softening of sales in the UK, following price increase, but the US was doing well.
Companies: Foster’s Group Ltd
A revised assessment by Southcorp's independent expert has valued the company's shares closer to the bid value offered by Foster's Group....
Australian liquor giant Foster's bid for winemaker Southcorp is gathering momentum....
As one takeover story trundles on, another one has just moved up a gear....
The chief executive of Foster's believes the global premium wine industry is on the upturn....
Foster's Group Ltd is expected to announce that it is lifting its offer for fellow Australian Southcorp, transforming three months of corporate hostility into a friendly takeover....
Shares in Southcorp and Foster's have been halted from trading, pending an announcement....
Southcorp's share price has dropped below the offer price made by Foster's for the first time today (18 April)....
Foster's Group is considering upping its bid for Southcorp prior to extending its offer once again....
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