Gaming billionaire ups stake in Treasury Wine Estates
Gaming billionaire ups stake in Treasury Wine Estates
Feb 21, 2012 6
(Decanter) - Casino and gaming billionaire, James Packer, has increased his stake in the world's second largest wine producer, Treasury Wine Estates.The move pushed shares up 3% to $3.80 to hit a three-month high, leading to speculation in the Australian media that its wine industry's fortunes are improving.
Packer's move to increase its ownership stake in Treasury, which owns brands including Beringer and Penfoles, closely follows the publicly listed company's half year results.
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