Bodegas Luis Gurpegui Muga, the Spanish wine concern, is looking at buying a property in the Chilean region of Valle de Colchagua and will invest a maximum of €4.4m (US$4.0m) to do so, according to Spanish press reports today.

Bodegas Luis Gurpegui Muga, which owns the Chilean winery Bodega Baron de Gurpegui, is looking to buy a 50ha property.

Bodegas Luis Gurpegui Muga produces Spanish Rioja and Navarra wines, and the Chilean wine Baron de Gurpegui. It has an average annual turnover of €33m owning 150 hectares of vines with a further 500 under its control.