Treasury Wine Estates (ASX:TWE) agreed to acquire 75% of Chinese firm Ningxia Stone & Moon Winery for 130 million yuan, according to a Tuesday filing with the Australian bourse.
The acquisition is expected to be completed in the second half of 2025 once customary closing conditions are met. Terms include an option for Treasury Wine Estates to acquire the remaining 25% ownership after five years, the filing said.
The purchase is part of the company's strategy of growing its luxury wine portfolio, particularly the Penfolds brand, as per the filing.
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