Business
Treasury Wine urged to keep Penfolds amid three-way demerger speculation – Sydney Morning Herald
Major fund manager VanEck has backed winemaker Treasury Wine’s decision to keep upmarket label Penfolds within its stable.
Jamie Hannah, deputy head of investments at top 20 Treasury shareholder VanEck, told The Age and The Sydney Morning Herald keeping Penfolds as part of the business was sensible. Fundamentally speaking, I do worry about any demerger of Penfolds, Mr Hannah said. Its the jewel in Treasurys crown.
Any formal work on demerging Penfolds would be a hard hit for the company. I wouldnt like to see Treasury lose one of its key segments.
Treasury Wines has been battered in recent months after an unexpected…
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