The main thing to remember is that if TWE demerges Penfolds, we don't lose it. We do not lose the revenue, we will all still have ownership of it by way of a share.
Look recently to the Wesfarmers demerger of Coles. All WES holders now have one WES share and one Col share for each WES share they owned, and guess what,,,,, Wesfarmers share price is back to where it was pre the demerger, and you have the bonus of that Coles share.
DYOR
Potential Chinese Boycott of Aus Exports., page-27
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