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SOUTH AFRICA: US attacks slow Boschendal sale

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The international road show to market the sale of the 3,000 hectare Boschendal farm and winery has been put on hold, in deference to the 11 September New York and Washington attacks and will probably take place in November.

Don Tooth, MD of Amfarms, the Anglo farming subsidiary which looks after the interests of Boschendal, said he and his team were on the brink of going to see prospective buyers for the property, which is expected to fetch several hundred million Rands, when the attacks took place.

"We figured that some of the people we wanted to see would not be in a frame of mind to look at the proposition so soon after the incident, so we decided to slow the process down a little and test the waters again possibly in November, He said.

"The number of potential buyers had also risen from almost 20 to more than 30 in the last month. Some of the enquiries have been from agents representing third parties, so we need to get together with the principles to take the process further."

He said Anglo American was looking at a buyer whom it felt would be best able to take Boschendal to another level of international competitiveness.


Wines & Spirits in South Africa 2001
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