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Constellation, Vintage request ACCC approval to merge

Constellation, Vintage request ACCC approval to merge

Australian winemakers Constellation Brands (ASX:CBI) and Australian Vintage (ASX:AVG) have applied to the ACCC for permission to merge their operations.

The companies have proposed to create a 50/50 JV between CBI’s Australian and UK wine operations and Australian Vintage.

Under the proposal, control of the combined entity would be shared equally between the two companies’ shareholders.

But the companies told the market that no binding agreement has been reached – the request has been lodged early to provide the ACCC with enough time to consider the competition issues that may arise from the merger.

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Tags Constellation Brands Inc (CBI)Australian VintageacccMergers and acquisitionswine

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