AUSTRALIA: Foster's Group implements Treasury Wine Estates demerger
AUSTRALIA: Foster's Group implements Treasury Wine Estates demerger
May 23, 2011 6
Foster's Group has officially transferred shares to its newly-demerged wine business, Treasury Wine Estates.
Foster's said today (23 May) that the demerger was implemented as planned on 20 May. As of today, there were around 647m shares in Treasury Wine Estates (TWE) on issue.
Since 10 May, TWE has been trading as a separate company on a deferred settlement basis on the Australian Stock Exchange. Tomorrow, the group's shares are expected to become tradable.
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