Billionaire Goudet Stake in Treasury Wine Sparks Rally

Treasury Wine Estates Ltd.’s shares jumped about 7% in Sydney, the most since September 2024, after European billionaire Olivier Goudet emerged as a shareholder, offering a rare boost to the troubled winemaker.

Goudet, through investment vehicle Platin SARL, has taken a 5% stake in the Penfolds owner, according to an exchange filing on Wednesday. The Australian firm has a market capitalization of about A$4.3 billion ($2.8 billion). Treasury shares were up 6% at A$5.33 as of 1:40 p.m. in Sydney.