AUSTRALIA: Xanadu renames and restructures
Australian winery Xanadu is to rename and restructure in the wake of being forced to sell major assets.
It will become Global Wine Ventures Ltd, retain its stock exchange listing and continue with some brands and hold 1.57 million litres of bulk wine.
The company says it will seek opportunities in new, small, undervalued or undercapitalised wine businesses and related investments. It estimates the restructuring will take four to six months.
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