Troubled Western Australian producer Evans & Tate has ‘tentatively’ agreed to the third and latest $148.3 million offer from the US-listed but Upper Hunter-based Yarraman Winery. Yarraman wants E&T shareholders to receive a single Yarraman share for every 6.75 of their E&T shares. Yarraman also intends to finance E&T’s $90 million debt with the ANZ Bank with $80 million in cash and $17.3 million in Yarrman preference shares. Yarraman views Evans & Tate as its first in an ongoing series of purchases it makes in an effort to become a significant New World producer with an international portfolio.
