AUSTRALIA: Southcorp undecided on sale process
The Australian winemaker Southcorp has refuted press reports that it has made a decision about the sale process of some of its winemaking assets.
As reported in just-drinks yesterday, The Australian Financial Review ran a story saying that the company has decided to use an internal team to sell off around A$25m of assets.
The paper said that the Australian winemaker had decided not to use investment bankers or wine industry brokers in a sales process that will include the disposal of the Waikerie winery in north-eastern South Australia and the Yenda winery near Griffith in NSW.
However, in today's press, a company spokesperson says it is too soon after the release of last month's asset review for a decision to be made on the sales process.
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