Lion's share of Montana forced to go
Australian brewing giant Lion Nathan Ltd has been ordered by New
Zealand regulators to cede control of winemaker Montana Group NZ
for breaching takeover...
Zealand regulators to cede control of winemaker Montana Group NZ
for breaching takeover...
Australian brewing giant Lion Nathan Ltd has been ordered by New Zealand regulators to cede control of winemaker Montana Group NZ for breaching takeover rules, opening the door for rival bidder Allied Domecq Plc, Industry Search reports. Lion Nathan has one month to sell 19 per cent of New Zealand's biggest winemaker, reducing its stake to 42 per cent. A New Zealand Stock Exchange committee ordered the sale after ruling that Lion bought shares before it was entitled to. Lion thwarted a rival offer for Montana from Allied Domecq. Montana shares rose 4.8 per cent to $NZ 5.05 as investors bet a bidding war may emerge for control of the winemaker.
