US: Vintage Wine Trust liquidation approved

By just-drinks.com editorial team | 27 May 2008

Vintage Wine Trust, a real estate investment trust focused on the wine and vineyard industry, today (27 May) announced that its plan of liquidation was approved by stockholders at its Annual Meeting held yesterday in San Rafael.

"After completing the process of exploring all of our strategic alternatives, we are pleased that our stockholders approved the plan of liquidation," said Joseph Ciatti, chairman and chief executive officer.

Last year Vintage Wine Trust completed two vineyard acquisitions in the US.

The California-based trust bought the 283-acre Sparrowk Vineyard and 422-acre Dunnigan Vineyard in the state for a collective total of US$9m.

Sectors: Wine