Kweichow Moutai Company Limited (KMCL), a China-based state-owned enterprise specializing in the production and sales of Maotai or Baijiu liquor, is set to purchase Chateau Loudenne wine estate of France.
Located in the Cru Bourgeois property and built in the 17th century, Chateau Loudenne was initially purchased by the current owner, Jean-Paul Lafragette, in 2000 for £6m.
The estate has a total area of 132ha, including 48ha of Cabernet Sauvignon, Cabernet Franc and Merlot vineyards and 12ha of Sauvignon Blanc and Semillon vineyards.
In December 2012, the Lafragette family initiated sales negotiations with KMCL. The final sale is expected to complete in few days time, reported Decanter.com.
According to a private agreement, KMCL had also invested €5m and set up a holding company for Chateau Loudenne.
When complete, the purchase of Chateau Loudenne will follow the 2012 acquisition of Chateau Dallau in Fronsac by KMCL.
