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Evans & Tate in trading halt

SPECULATION emerged this week that ANZ Banking Group Ltd had revised the terms of winemaker Evans & Tate Ltd’s balance sheet restructure because it failed to secure a third party co-investor to back its plan. E&T entered a trading halt before the market began trading on Friday morning and said it expected its shares to remain suspended from trading until Wednesday. Speculation also emerged that former ERG Ltd CEO Peter Fogarty had put a takeover proposal to E&T, offering to buy its shares for between 5 cents and 6 cents each. It is understood E&T’s board rejected the offer.

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