American liquor giant Constellation Brands’ takeover of Australian wine group BRL Hardy has moved closer to certainty with a recommendation by the board of International Wine Investment Fun for unit holders to accept the offer.
IWIF has a 12.5% stake in BRL Hardy which comprises 68% of its portfolio. A meeting of unit holders has been called for March 17 in Adelaide, IWIF’s – and BRL Hardy’s – home city to vote on the recommendation.
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