Why Constellation Brands wants to spin off a key business line

As early as this fall, beer, wine, and spirits manufacturer and marketer Constellation Brands, Inc. (NYSE:STZ) may spin off its Canadian wine business in an initial public offering on the Toronto Stock Exchange. Bloomberg News, which reported the details on a move management had previously disclosed it was considering, reports that the IPO could be worth $1 billion in Canadian dollars, or about $787 million at current exchange rates.