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FRANCE : Chinese industrialist acquires Saint-Emilion premier grand cru classé

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A Chinese industrialist has bought Bordeaux's Château de Bellefont-Belcier from three French businessmen.

The 45-year-old buyer, who is known only as Mr Wang, has earned his fortune from minerals, just-drinks has learnt. A source close to the matter has said that the transaction, for an undisclosed amount, has cost around EUR20m (US$26m).

The purchase marks the first time a Chinese investor has acquired a Saint-Emilion premier grand cru classé. 

The source added that the deal could signal the start of the next phase in Chinese investment in the French wine sector, which would focus more on acquiring estates producing grands crus.

The estate, which comprises around 13 hectares of vineyards, was bought from Jacques Berrebi, Alain Laguillaumie and Dominique Hébrard.


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