The receivers of collapsed Margaret River winery Evans & Tate will spend an additional fortnight discussing the sale of the business with five potential bidders after receiving strong interest in the group’s assets.
A group of former Evans & Tate grape growers have established a co-operative to negotiate the sale of their fruit to other industry players, after receivers for the Margaret River winery revised its 2008 vintage contracts.
The race to acquire Evans & Tate officially gained a third participant today as expected, with the Australian arm of US-listed Yarraman Winery Inc putting a fresh takeover offer to the Margaret River winery's corporate advisers.
Yarraman Winery Inc is considering a fresh takeover proposal for Evans & Tate, three months after the little-known US-based company's opportunistic $148 million bid was rejected by the Margaret River winery.
Evans & Tate have rejected a $131 million takeover proposal from Yarraman Winery Inc following a week of close discussions with senior management from the US-listed wine group.
12 Jan 2007
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