Australian wine giant Treasury Wine Estates’ stock prices rose 8% on news of a potential buy-out from France’s biggest drinks and beverage owner, Pernod Ricard.
British media This is Money reported that Pernod Ricard, the maker of Jameson and Jacob’s Creek, might be interested in some or all of Treasury Wine Estates, for as much as £5 billion.

The report cites city sources saying that TWE had received a AU$15.67-a-share offer but it is unclear if it was from Pernod Ricard or a US private equity firm.
Both companies did not comment on the rumor. The news pushed up TWE’s share prices by 8% shortly. The company’s shares dropped to the lowest point when China first placed anti-dumping tariffs on Australian wine last November.
It sells about AU$500 million of wine annually to China, which represented about 30% of TWE’s Group earnings in F20.
Earlier TWE announced that it has shelved its plan to demerge its popular Penfolds brand after its most profitable market China slapped up to 212% anti-dumping tariffs on Australian wines.
The company then reshuffled its operations, and streamlined regional offices to focus on three main divisions – Penfolds, Treasury Premium Brands and Treasury Americas.
Pernod Ricard, owner of Absolut Vodka, Mumm Champagne and Perrier-Jouët, is valued at €41.5 billion.
In its latest financial report, the group reported double-digit sales growth in China and solid demand in the US by home consumption, a better-than-expected result.
The six months ended on December 31 last year, its profit reached €1.595 billion, an organic decline of 2.4% despite the pandemic.