CORRECT: Billionaire Bill Foley to take control of NZ Wine Co

Thu, 28 Jun 2012

(Corrects to show wine brands being acquired starting in first paragraph) By Hannah Lynch June 29 (BusinessDesk) - Foley Family Wines, owned by the California-based billionaire Bill Foley, is to take control of New Zealand Wine Company, adding the Grove Mill, Sanctuary and Frog Haven brands to its suite of local wines. The merger which will see Foley take an 80 percent stake in NZ Wines Co., and is subject to shareholder approval and consent from the Overseas Investment Office, the company said in a statement. Shareholder will vote at a spe...

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