WINE INDUSTRY – AUSTRALIA

Treasury sets the pace for $3.4b offer

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Original article by Simon Evans, Sarah Thompson
The Australian Financial Review – Page: 15 & 20 : 5-Aug-14

Shares in Treasury Wine Estates closed $A0.20 higher at $A5.15 on 4 August 2014, in response to a revised takeover bid. Private equity firms Kohlberg Kravis Roberts (KKR) and Rhone Capital are offering $A5.20 per share, compared with KKR’s initial offer of $A4.70. Treasury has invited the bidders to undertake non-exclusive due diligence, and wants them to conclude the process as quickly as possible

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, KKR AND COMPANY LP, KOHLBERG KRAVIS ROBERTS AND COMPANY, RHONE CAPITAL LLC, PENFOLDS WINES PTY LTD, WOLF BLASS WINES PTY LTD, LINDEMANS WINES PTY LTD, ROSEMOUNT ESTATES PTY LTD, WYNNS COONAWARRA ESTATE PTY LTD, FOSTER’S GROUP LIMITED

Australian sangria packs punch in US

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Original article by Eli Greenblat
The Sydney Morning Herald – Page: 24 : 1-Aug-14

Casella Wines has had a positive response to its sangria, which was launched in July 2013. The US has accounted for about 90 per cent of the 300,000-plus cases of sangria that the family-owned winery has sold to date. The sangria is being marketed under the popular Yellow Tail label, which has been a huge export success for Casella

CORPORATES
CASELLA WINES PTY LTD, YELLOW TAIL WINES

Treasury Wine class action launched

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Original article by Pia Akerman
The Australian – Page: 21 : 3-Jul-14

Treasury Wine Estates (TWE) will defend a class action that claims it misled the market. Law firm Maurice Blackburn lodged the case in the Federal Court of Australia on 2 July 2014. The suit alleges that TWE failed to manage its inventory and should have known that writedowns were inevitable, but it did not inform the market. The claim is on behalf of 619 shareholders, who suffered losses after the $A190 million writedown

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, MAURICE BLACKBURN PTY LTD, FEDERAL COURT OF AUSTRALIA, BENTHAM IMF LIMITED – ASX IMF, SUPREME COURT OF VICTORIA

New release on Penfolds unveiled

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Original article by Simon Evans
The Australian Financial Review – Page: 17/22 : 26-Jun-14

Treasury Wine Estates CEO Mike Clarke has announced changes in the company’s strategy, including moving the release date of Penfolds wines from March and May to October. Clarke told investors on 25 June 2014 that the group’s full-year profit guidance of between $A190 million to $A210 million remains unchanged. Investors welcomed Clarke’s statement, pushing the share price of Treasury up $A0.24 to $A5.07

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, PENFOLDS WINES PTY LTD, ROSEMOUNT ESTATES PTY LTD, LINDEMANS WINES PTY LTD, WYNNS COONAWARRA ESTATE PTY LTD, WOLF BLASS WINES PTY LTD, KOHLBERG KRAVIS ROBERTS AND COMPANY, EAST END CELLARS PTY LTD