If approved by shareholders in late April and Australian courts in May, the demerger of the wine business would take effect in May with the trading of Treasury's shares on the Australian Securities Exchange. Treasury's portfolio includes Napa Valley wine brands Beringer, Etude, St. Clement and Stags' Leap, Chateau St. Jean in Sonoma Valley and imports Lindemans, Wolf Blass, Penfolds, Rosemount, Wynns Coonawarrra Estate and Castello di Gabbiano. Wine unit sales in the first half of fiscal 2011, ended in December, totaled the equivalent of 18 million 9-liter cases, a decrease of 5.9 percent from a year before, and A$923.7 million, a 2.7 percent decrease on a constant-currency basis.