Marlborough Lines takes 80% stake in Yealands Wine for $89 million

Wed, 01 Jul 2015

By Suze Metherell July 2 (BusinessDesk) - Marlborough Lines has bought an 80 percent stake in Yealands Wine Group, New Zealand's sixth-largest wine exporter, for $89 million. The South Island electricity lines company took control from founder Peter Yealands, who wanted to keep the winery fully New Zealand owned, the companies said in a joint statement. Marlborough Lines is debt free and had realised $100 million in cash from investments which it wanted to reinvest locally. "Opportunities to invest in the electricity industry are limi...

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