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AUS: Bright Food denies Treasury Wine Estates interest - report

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China's Bright Food Group has denied that it is interested in acquiring Treasury Wine Estates, according to reports.

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Treasury Wine Estates' (TWE) share price leapt by almost 9% yesterday (4 July) after Bright Food was reported to be interested in the business, which has recently separated from Foster's Group.

However, today, a Bright Food spokesperson was quoted by Reuters as saying that the Chinese conglomerate currently has "no Australian wine acquisitions in the works". TWE shares fell back by 2% in today's trading on the Australian Stock Exchange.

It is not the first time that Bright Food has been linked with a possible bid for the Rosemount wine producer. Separately, last year, Foster's rejected a AUD2.5bn (US2.7bn) private equity-backed takeover bid for Treasury Wine Estates.

More recently, however, market speculation has centred on the new-look Foster's Group, following SABMiller's AUD9.5bn bid for the business.


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