Constellation Brands, Inc. (STZ, CBR.AX) announced that it is pursuing a number of opportunities with various parties to improve the prospects of its Australian and U.K. businesses.
Constellation Brands noted that the options include sale of certain assets and a possible combination of a portion of its Australian and U.K. wine operations with Australian Vintage Ltd. (AVL) in exchange for a substantial, but non-controlling, interest in the combined entity. Constellation specified that talks with Australian Vintage are ongoing and preliminary.
Constellation noted that, if a transaction results, the combined companies would operate as a stand alone wine company, which would be listed on the Australian Stock Exchange.
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