AUS: Treasury Wine gets $31.5m in cash
AUS: Treasury Wine gets $31.5m in cash
Apr 3, 2012 6
(NineMSN) - Treasury Wine Estates, the wine business formerly owned by Foster's, will receive a $31.5 million payment from the brewer to complete an IT overhaul.
Foster's had agreed to install a new core operating IT system for Treasury Wine in May 2011, but has since been bought by Anglo-South African brewer SABMiller.
Treasury Wine on Wednesday said it would complete the work itself, and Foster's would pay it $31.5 million in cash as a result.
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