TAITTINGER FAMILY REGAINS NAMESAKE CHAMPAGNE

The Financial Times reports that the Taittinger family will soon control its namesake champagne more than two years after selling the business to Starwood Capital. The family plans to buy-out management from French bank Crédit Agricole Nord-Est along with the help of ten family friends, which just so happens to be 10 of France's wealthiest families. The deal allows the Taittinger family to buy up more shares over time to give it control of the business.

Starwood sold the champagne business to Crédit Agricole Nord-Est while the Taittingers continued to oversee the operations.