Yantai Changyu Pioneer Wine Company Limited (SZSE:200869) agreed to acquire 80% stake in Kilikanoon Wines Pty Ltd from a group of sellers for AUD 20.6 million on December 11, 2017. The consideration is payable in cash and will be funded from own funds. The deal is approved by Board of Directors of Yantai Changyu Pioneer Wine Company Limited. Kevin Mitchel and Managing Director Wattick Duthy retain their shares and positions in Kilikanoon Wines Pty Ltd.