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Article: LION NATHAN IN TALKS TO BUY PREMIUM AUSTRALIAN WINE MAKER.

Article from:
AsiaPulse News
Article date:
August 22, 2001
Copyright

MELBOURNE, Aug 22 Asia Pulse - Lion Nathan Ltd (ASX:LNN) is moving to fill a significant gap in its portfolio with chief executive Gordon Cairns confirming talks are underway to buy a premium Australian wine producer.

Mr Cairns said Australia's second largest brewer was targeting a producer in the premium $A15 ($US7.99) per bottle and above price range, looking at all of Australia's key growing regions.

But he said Lion Nathan was under no pressure to make an immediate acquisition, preferring instead to let the market cool off.

"I think wine companies are overvalued and there will be a correction, that's why we're patient," Mr Cairns told ...

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