March 10 (Reuters) - Treasury Wine Estates Ltd (TWE) :
- TWE ENTERS AGREEMENT WITH TWG FOR US COMMERCIAL BRANDS
- THE WINE GROUP WILL SOURCE AND SELL BERINGER MAIN & VINE, BERINGER FOUNDERS' ESTATE, COASTAL ESTATES AND MERIDIAN BRANDS IN AMERICAS
- WINE GROUP WILL ACQUIRE EXISTING INVENTORIES ASSOCIATED WITH THESE BRANDS ON A PROGRESSIVE DRAWDOWN BASIS
- BERINGER BRAND WILL BE LICENCED TO WINE GROUP FOR USE ON MAIN & VINE AND FOUNDERS' ESTATE RANGES ONLY
- EXPECTS TO GENERATE ONE-OFF NET CASH INFLOW OF AT LEAST A$300 MILLION AS PART OF THESE PLANS
- NO INTENTION FOR TWE TO DISPOSE OF BERINGER BRAND AS PART OF THIS OR ANY FUTURE TRANSACTIONS
- AGREEMENT WILL GENERATE CASH PROCEEDS OF APPROXIMATELY A$100 MILLION
News: TWE Treasury Wine Enters Agreement With The Wine Group For U.S. Commercial Brands
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