Australian Vintage eyes best day in over 13 yrs on 'strategic review'

Australian Vintage

03/07/2023 06:25

** Shares of Australian Vintage Ltd  AVG.AX  rise as much as
17.5% to A$0.470, set to mark best day since Aug 28, 2009
    ** Stock hits highest since June 6 
    ** Wine producer says initiating strategic review to explore
options to "expedite value unlock" 
    ** Says, review will include consideration of full range of
available strategic, business and financial alternatives to
maximise value, and may lead to potential third-party interest
from domestic and international parties
    ** Adds, strategic review comes as co operating within
challenging business environment, given continued inflationary
impact, among others 
    ** Stock has fallen 33.9% this year, as of last close

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))