By James Atkinson
Treasury Wine Estates (TWE) has rejected media reports suggesting the company was considering the sale of its US assets to Pernod Ricard.
TWE issued a short market update on Friday in response to recent movements in its share price, and an article in The Australian suggesting it was in talks with the French wine and spirits giant.
“Pursuant to the Company’s disclosure policy, it does not comment on market speculation, but confirms that it has not been approached by, and is not in discussions with, Pernod Ricard,” TWE said on Friday.
Analysts have long argued that TWE should offload the stricken US business, but new CEO Mike Clarke recently reaffirmed the company’s commitment to the region.
"Mike is committed to retaining our US business, which he sees is an important platform for future growth," a spokesman said last month.