Sydney - Friday - September 15: (RWE Aust Business News) -
Australian Wine Holdings (ASX:AWL) has sold its Karridale winery.
AWL will retain the Alexandra Bridge and 101 labels, packaged and
bulk wine stocks and continue to produce, market and distribute.
The sale is above carrying value and subject to satisfying
certain conditions precedent in respect of the secured lenders to AWL.
Pending completion of the asset sales, including the previously
announced sale of Hay Shed Hill, AWL will continue to own and operate the
Chestnut Grove wine making facility in Manjimup and market wines under
the Chestnut Grove, Tall Timber, Alexander Bridge, 101 and Bunker Bay
labels.
The distribution business of Wine Shack is unchanged.
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