Monday, June 27, 2005

Viansa sale in progress

[link to Sonoma Index Tribune]

I'd suggested there might be something going on with Viansa a little while ago, and...well...there it is.

360 Global Wine Company, which is making the purchase, doesn't seem to be the most successful at closing some of it's recent deals. Time will tell if this deal's going to be different, or has some problems associated with it too. What is interesting about 360's SEC filing is that it states that 360's purchase will "be subject to our review and approval of the assets" and that there is no signed agreement yet. This seems odd, as usually deals like this aren't announced until after an agreement is signed. Perhaps the leak to the Sonoma paper forced 360 to go public with their SEC filing. Whatever the cause, it doesn't strike me as a good sign toward a consummated deal. I can think of a number of other wine deals that were prematurely announced or leaked and never completed.

(Coppola is rumored to have previously looked at Viansa, but for whatever reason passed on the purchase. Too bad in my opinion, as I think Coppola's style would've meshed with Viansa's quite well.)


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