ASX-listed wine businesses Constellation Brands and Australian Vintage have applied for informal merger clearance from the Australian Competition and Consumer Commission as talks continue for a possible tie-up between the two firms. The companies advised that talks ”may result in a possible combining of part of CBI’s Australian and U.K. wine operations with AVL in exchange for a non-controlling, 50% equity interest in the combined entity” but warned that there is no certainty... ...Read more »

Australian Vintage announced today that it is in discussions with Constellation Brands “which may result in a possible combining of part of CBI’s Australian and UK wine operations with AVL in exchange for a substantial, but noncontrolling, interest in the combined entity”. The winemaker said that the difficult trading conditions were the impetus for the discussions. “This potential combination would create synergies between the two companies, better positioning both for success... ...Read more »