Australia’s Beston Wine Industry Trust is planning to raise up to A$55m (US$37.4m) to help fund a purchase and leaseback arrangement with McGuigan Simeon Wines.
The Trust is preparing a prospectus for a capital raising of A$45m with oversubscriptions of a further A$10m.
The money would be used to buy McGuigan’s 890 hectares of vineyard in South Australia and New South Wales. Subject to unitholder approval this month Beston would pay A$68 million for the first tranche of vineyards and McGuigan would lease them for between nine and 12 years.
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