Business
McWilliam’s Wines creditors approve private equity rescue; Australian shares close lower – ABC News
One of Australia’s oldest winemakers will be under private equity control, after being family-owned across six generations. Technology stocks led the decline on the Australian share market.
One of Australia’s oldest winemakers has avoided collapse, with creditors voting in favour of a rescue plan by a private equity firm.
Key points:
- Prcstnt Asset Management is set to take control of McWilliam’s Wines by October
- Technology stocks led the losses on the ASX, after news Apple is under investigation sent Wall Street lower
- Shares in IAG have fall sharply after the insurer scrapped its final dividend
McWilliam’s Wines entered voluntary administration …
Continue Reading