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16 February 2011 - Gide Loyrette Nouel advises Chinese group COFCO on the acquisition of an AOC vineyard in the Bordeaux region:
Gide Loyrette Nouel (GLN) has advised the giant Chinese agribusiness group COFCO on the acquisition of Château de Viaud, a leading vineyard set in the prestigious Lalande-de-Pomerol wine growing area.
This operation follows several other more modest acquisitions by Chinese private investors and is a sign of China's growing interest in French wine growing excellence and a response to the exponential increase in demand in the country for fine quality wines.
Listed in Hong Kong and majority-owned by the Chinese State, COFCO is the largest Chinese agribusiness conglomerate with annual sales of over USD 21 billion. COFCO, whose portfolio also includes the Great Wall wine brand, is the leading Chinese wine producer and was selected as the official supplier for the Beijing Olympic Games.
The seller, Philippe Raoux, is a Bordeaux wine grower and merchant who has been a significant driving force in the recent development of the local wine market. He owns several wine estates such as the Château d’Arsac (famous for its Margaux wines and works of art) and in 2007 opened La Winery, a unique complex dedicated to wine tourism in the Bordeaux region.
The GLN team advising COFCO was led by partner Guillaume Rougier-Brierre and Arnaud Lunel, from the Paris Office, assisted by Chen Aihua in Beijing. COFCO was advised on financial aspects by Jean-Luc Coupet, the founder of Wine Bankers.
This same team is regularly instructed on transactions between China and Europe and, in the wine sector, previously advised Domaines Baron de Rothschild on a partnership with Chinese bank CITIC in Penglai, in the Shandong region, for the launch of a local fine wine.
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