TWE Writes Down another $244 Million, Undergoes Substantial Restructure

Just a few weeks removed from a takeover bid by private equity firm Kohlberg Kravis Roberts (KKR), Treasury Wine Estates has announced a substantial restructure that will include another writedown worth $244 million. The writedown "reflects a combination of historical prices paid for assets purchased while it was still under the Fosters umbrella and a decline in market growth rates for commercial wine," according to the company.

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