
Foster’s tells private equity firms wine bids are corked
Australian beverages major Foster’s Group’s plans to divest its Treasury Wine Estates wine estate, which owns the Lindemans, Rosemount, Penfolds and Wolf Blass brands, has not been the PE win many firms had hoped for.
Cerberus Capital Management was revealed as the party that submitted a A$2.3-2.7 billion ($2.1-2.46 billion) bid for 100% of the wine unit’s assets and was subsequently rejected. Kohlberg Kravis Roberts...
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