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AUSTRALIA: Hess gains FIRB approval for PLW deal

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The Swiss company, Hess Group AG, has been granted approval by the Australian Foreign Investment Review Board (FIRB) for its A$3.50-a-share cash takeover bid for Barossa Valley wine producer, Peter Lehmann Wines Ltd. (PLW).

A bidder's statement regarding the Hess offer is expected to be sent to PLW shareholders on or around 19 September.

However, with a counter offer from Allied Domecq a distinct possibility, the PLW board has advised shareholders to take no action in relation to the Hess bid.


Sectors: Wine

Companies: Allied Domecq

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