UB GROUP YANKED FROM THE RUNNING
It looks like Taittinger champagne company might return to the Taittinger family who have reportedly teamed up with the French bank Crédit Agricole. US real-estate group Starwood Capital, current owner of Taittinger, has reportedly entered into “advanced discussions” with Crédit Agricole on the sale of Taittinger’s champagne assets, along with their California and Loire vineyards. The outcome is expected to surface early next week.
The Taittinger family bid has reportedly beaten all other offers, including India’s UB Group which is no longer under consideration. Some wine industry officials in Northern France were apparently concerned about UB’s $700-million bid, seeing it as a threat to the French system of locality-based appellations. People also called into question the Group’s long-term intentions for Taittinger and felt the brand might not get adequate protection.
The Taittinger family bid has reportedly beaten all other offers, including India’s UB Group which is no longer under consideration. Some wine industry officials in Northern France were apparently concerned about UB’s $700-million bid, seeing it as a threat to the French system of locality-based appellations. People also called into question the Group’s long-term intentions for Taittinger and felt the brand might not get adequate protection.
posted at 10:53 AM
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