Australia’s Treasury Wine to overhaul business, sell assets as Chinese tariffs bite
(Reuters) – Treasury Wine Estates plans a major overhaul of its business that includes the likely sale of low priority brands and other assets, aiming to gain at least A$300 million ($230 million) as it reels from the impact of steep Chinese tariffs on Australian wine.
The restructuring was unveiled on Wednesday as the world’s largest listed winemaker reported a 43% slump in first-half net profit to A$120.9 million ($94