April 7, 2020 / 9:59 PM / 2 months ago

Treasury Wine mulls Penfolds demerger, to scale back commercial wine business

April 8 (Reuters) - Treasury Wine Estates Ltd will consider de-merging its Penfolds wine business into a separate listed company and look at ways to down-size its commercial wine business, especially in the United States, it said on Wednesday.

The announcement from the Melbourne-based company comes as it grapples with a hit to demand amid the ongoing coronavirus pandemic and also ties into a review of its U.S. operations it announced in January. (Reporting by Shashwat Awasthi in Bengaluru Editing by Chris Reese)

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