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TWE Shares Soar High

Posted by: Hannah Sparks October 20, 2020

Shares in Treasury Wine Estates rose to $7.40 this week, after the company announced it had raised $368 million to help fund its acquisition of Diageo’s wine business in the US and UK.

The new share price set on Monday, October 19 is 15 per cent higher from the following Monday.

Chairman Paul Rayner said last week that the acquisition of Diageo Wine represents a highly compelling strategic and financial opportunity for TWE’s shareholders.

The company’s current trading expectation for FY16 is $270million-$290million EBITS.

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