The wine group Vincor International Inc has agreed to sell 5.25m shares at C$28.65 a share, for gross proceeds of C$150.4m to Scotia Capital Inc, on a bought-deal basis.  The money generated will apparently be used for general corporate purposes.

The offering, which is subject to regulatory approval, sees Vincor grant Scotia Capital an option to purchase up to an additional 787,500 common shares, exercisable until 48 hours before closing.

Closing of the transaction is expected around the end of February.