Foster’s wine spin-off thrives

Australia's Foster’s Group and its unit Treasury Wine Estates just grew more expensive for potential suitors, following a strong debut for the wine group on the Australian bourse yesterday. Foster’s spun off Treasury Wine Estates to its shareholders to boost value. The world’s second-largest wine company ended its first day on the board with a market value of A$2.18bn (£1.9bn), near the top end of broker valuations.