Treasury Wines (ASX:TWE) not currently considering demerger

Company News

by Anna Napoli

Global winemaker Treasury Wines (ASX:TWE) has denied media reports of a potential demerger.

The company says it Is not currently considering a demerger of any brands within its portfolio.

The clarification follows an article in the Australian which reported the company was investigating a demerger of its global operations into three separate businesses.

Last week Wine Australia said local wine exports slowed in the 12 months to December 2020, decreasing by 1 per cent in value to $2.89 billion. The decrease came as Chinese tariffs took their toll on exports.

Wine Australia Chief Executive Officer Andreas Clark said that despite the COVID-19 pandemic, exports hit a record year-on-year value of $3.1 billion in the 12 months ended October 2020, before recording a steep decline in the final two months of the calendar year.

Shares in Treasury Wine Estates (ASX:TWE) are trading 0.15 per cent higher at $9.98.
 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.