UPDATE 1-Foster's spin-off Treasury Wine targets global growth
UPDATE 1-Foster's spin-off Treasury Wine targets global growth
May 9, 2011 6
(Reuters) - Treasury Wine Estates , the wine business spun-off by Foster's Group , is set to debut on the Australian bourse on Tuesday, with analysts expecting it to trade at a market value of around A$2 billion ($2.2 billion).
The spin-off of the world's second largest wine company behind Constellation Brands was designed to boost value to shareholders, with the wine group and Foster's, Australia's top brewer, both seen as potential takeover targets.
Comments