KKR parts ways with ex-CCA chief

By Staff Reporter

Treasury Wine Estates' potential suitor Kohlberg Kravis Roberts (KKR) has parted ways with former Coca-Cola Amatil chief executive Terry Davis as the bidding war for the winemaker edges nearer to a conclusion, The Australian Financial Review reports.

In early August, perennial takeover target TWE became the subject of a bidding war, when an unnamed global private equity investor — believed to be TPG —  lobbed a rival bid for the winemaker.

According to the newspaper, KKR and its bidding partner Rhone Capital have ended an arrangement by which Mr Davis was providing the suitors broad advice on a number of "behind-the-scenes aspects" of the proposal.

Last month, the takeover target swung to a full-year loss on the back of hefty asset impairment charges, but the group remains confident it is well positioned for growth despite being the subject of a $3. 4bn bidding war.

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

Read more here: Business Spectator


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