Olivier Goudet's A$500M Aquisition Boosts TWE, UP 6% at A$5.33

European billionaire Olivier Goudet’s investment firm Platin SARL has acquired a 5% stake in Treasury Wine Estates Ltd. (ASX:TWE), sending the Australian winemaker’s shares up 6% to A$5.33 at 1:40 p.m. Sydney time, the steepest rally since September 2024. TWE, valued at about A$4.3 billion, reported a near A$690 million write-down in its U.S. business and has canceled a A$200 million stock buyback amid weakness in key markets, including the U.S. and China, following distributor transitions and regulatory challenges. The company, led by new CEO Sam Fischer, is pursuing A$100 million in annual cost savings over the next 24–36 months and is reviewing capital investments amid a broader reassessment of its strategy.