* Source: Global Times * [14:43 June 10 2010] * Comments
China's Bright Food (Group) Co., Ltd., has been negotiating with an Australian wine maker to buy the latter, Ge Junjie, vice president and spokesman of the Chinese firm disclosed recently.
He did not disclose the name of the firm, but said it is not the Foster's Group Limited which people created rumors about. Previously, media reports had said that Bright Food was in talks with Foster's, Australia's largest wine maker.
Foster's announced it would separate its wine and beer business, listing them respectively on May 26. The move provoked concerns over business opportunities.
Months ago, Bright Food was negotiating with Australia's largest sugar maker, CSR Ltd, to purchase its sugar and regenerative energy business. An insider from the firm said it found the business opportunities in the wine industry in Australia during the negotiation with CSR.
According to media reports, the overproduction of wine has forced many wineries in Australia to sell their vineyards, and now, domestic liquor firms have began their steps in purchasing overseas assets.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)