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TPG, KKR Reportedly Lining Up Financing For Treasury Takeover Bids

August 29, 2014

News out of Australia suggests the private-equity pursuit of Treasury Wine Estates is intensifying, with the wine giant’s two current bidders exploring financing options to enable a deal. According to the Australian Financial Review (AFR), Texas-based TPG Capital has lately convened with Treasury executives over a five-day period in both the U.S. and Australia, and is set to meet with a list of financiers including JP Morgan, Deutsche Bank, Morgan Stanley and others within the next week or two to secure support for its $3.2 billion bid for Treasury. Meanwhile, joint bidders KKR and Rhône Capital are said to be looking at financing toward their own bid. The report added that TPG supports current Treasury CEO Michael Clarke and his plan to acquire more upscale wine assets in the U.S., within a limited scope.

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