The Board of Treasury Wine Estates Limited announced today that it has received a new proposal from another potential suitor following the August 4 confirmation of a non-binding and conditional proposal from Kohlberg Kravis Roberts & Co. L.P. (KKR) and Rhône Capital L.L.C. (Rhône) to buy the company.
 
This second conditional offer is also said to be for the entire equity of the famous wine company and comes from another global private equity investor who has apparently requested that its identity remain confidential for now. This party has offered to acquire all of the shares of TWE at a price of A$5.20 cash per share by way of scheme of arrangement.
 
The Board of TWE has concluded that it is in the interests of its shareholders to engage further with this private equity investor. Therefore, subject to the negotiation of an appropriate confidentiality agreement, it will also be granted the opportunity to conduct non-exclusive due diligence.