DataRoom AM: Treasury in play

Investors seem confident KKR’s bid for Treasury Wine Estates won’t be the last, while Shell and PetroChina look close to selecting a partner for a gas sale option at their Arrow LNG project.

Reports of takeover interest in leading winemaker Treasury Wine Estates have proven accurate, to a degree. Most speculation in recent times has centred on a divestment of its US assets, but yesterday we learned that private equity firm Kohlberg Kravis Roberts has its eyes on the whole business. So what will it take to get the TWE board on side?

Elsewhere, judgement day nears for the Arrow LNG venture, Genworth Australia ignites the IPO market and UGL ditches its planned divestment of DTZ.

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