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Wine company continuing process announced in November, says CEO.
Wine maker Villa Maria, owned by Sir George Fistonich, is aiming to announce progress on a capital raise and the sale of land around the end of March, says chief executive Justin Liddell.
The company said in November it was selling 31ha of surplus land around its Auckland headquarters in Mangere and looking at raising capital to fund growth plans.
Yesterday the
Australian Financial Review reported that Villa Maria was courting trade and private equity buyers through adviser UBS, with the business said to be worth more than $200 million.
However, Liddell expressed surprise at the report, saying Villa Maria
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14 minutes to read
Jake Millar has opened up after the demise of the company he founded. Photo / Supplied
Jake Millar has a problem. He s being followed around by a red pair of Gucci loafers, treading wherever his name is mentioned online. The ostentatious Italian shoes have become a common feature across comments sections and social media, emblematic of the schadenfreude accompanying the trendy jetsetting entrepreneur s fall from grace. They re an uncomfortable curse, an exasperated Millar tells the Herald during a phone interview from the United States.
Trade and private equity buyers being sounded out for Villa Maria Estate
1 Feb, 2021 12:10 AM
2 minutes to read
Sir George Fistonich, founded Villa Maria Estate winery in 1961. Photo / Brett Phibbs
Trade and private equity buyers are being approached to either buy or invest in winery Villa Maria Estate.
Investment bank UBS has been mandated for the search and has a handful of interested parties, according to a report in the Australian Financial Review s Street Talk column.
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But a sale of the entire business would be a step up from that.
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The AFR reported that potential buyers believe it could be worth more than A$200 million ($213m), although binding bids were still a while away.