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Australia's Treasury Wines pauses Penfolds demerger

Published 05/11/2020, 09:33 am
Updated 05/11/2020, 09:36 am
© Reuters.

Nov 5 (Reuters) - Australia's Treasury Wine Estates Ltd TWE.AX said on Thursday it had paused the demerger of its Penfolds division, as it looks to focus on boosting trading performance during COVID-19, restructuring of its U.S. business and responding to an anti-dumping probe by China.

The previously announced timeline for implementing the potential demerger by the end of 2021 is no longer applicable, the company added.

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