There have been close to 20 serious domestic and international buyers who are looking at buying Boschendal, since the Anglo American winery in the Cape was put on the market at the beginning of June.

Don Tooth, MD of Amfarms, the Anglo farming subsidiary which looks after the interests of Boschendal, said interest had been expressed from many quarters, including Australia, Argentina, Chile, the US and various countries in Europe.

He said his board had a minimum figure in the back of their minds for the 3,000 hectare property, which also sports an ultra-modern winery, restaurant and historical Cape manor house.

"We don't want to approach it in that manner. We believe that to different buyers, Boschendal represents different interests and for that reason we are putting together a business proposal looking at how the winery would fit into their business structures and strategies.

"We will be going on a road show to call on between 10 and 15 potential buyers, some of whom have approached us and some of whom we believe we could interest in this proposition, to give them a better understanding of our proposal.

"After that we will invite those who we feel are the best potential candidates to discuss more detailed figures and strategies before the finalising the deal.

"We are doing it this way, because at the end of the day we don't see this as a fire sale," Tooth said.

The World Market for Wine 2001