CRISTAL NEGOTIATIONS COMPLETE
The Champagne house of Louis Roederer, producer of Cristal, announced last week it has completed negotiations with Bordeaux wine producer Chateau Pichon-Longueville Comtesse de Lalande after months of talks.
The deal, which included various competitors throughout 2006, includes the sale of Lencquesaing’s cru bourgeois estate Château Bernadotte in the Medoc. The transfer took place January 1, although details were not divulged.
The decision to sell by Mme. May Eliane de Lencquesaing, inheritor and belle dame of the Château, in her 80s, is reported to have been a preventative measure to ensure the 300-year old château remains in tack. Since she has no immediate successor, inheritors would split the property equally according to French law – often resulting in problems. Instead, with a sale, they may split the proceeds.
The deal, which included various competitors throughout 2006, includes the sale of Lencquesaing’s cru bourgeois estate Château Bernadotte in the Medoc. The transfer took place January 1, although details were not divulged.
The decision to sell by Mme. May Eliane de Lencquesaing, inheritor and belle dame of the Château, in her 80s, is reported to have been a preventative measure to ensure the 300-year old château remains in tack. Since she has no immediate successor, inheritors would split the property equally according to French law – often resulting in problems. Instead, with a sale, they may split the proceeds.
posted at 1:59 PM
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