AUSTRALIA: Wine Investment Fund in joint venture
The Wine Investment Fund Ltd has agreed, through a wholly-owned subsidiary, to take a 10% stake in a proposed joint venture with David Traeger, managing director of David Traeger Wines. The joint venture will produce wines under the David Traeger Wines label. In addition, Dromana Estate Ltd, one of the fund's largest investments, is to take a 40% stake in the joint venture. The Wine Investment Fund is planning to finance its participation in the venture through script and cash. It has also said it will retain the current equity it holds in Dromana Estate Ltd.
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