29 April 2011 Last updated at 00:26 ET
Investors at Australian drinks maker Foster’s have agreed to split the company, spinning off its troubled wine division into a separate business.
More than 99% of votes were cast in favour of the demerger, which is expected to come into effect on 9 May.
Foster’s will retain its beer division, which owns the Carlton and United Breweries brands.
The new firm, Treasury Wine Estates, will have assets and vineyards in Australia, Europe and the US.
View post:
Investors agree to split Foster’s