On April 10th a British private-equity firm, CVC Capital, won the backing of Deoleo's board after making the highest offer, valuing it at €439m ($607m). But given the controversy over selling to foreigners, two of the four would-be sellers now look like keeping their stakes. CVC will end up owning 30% of Deoleo but will later seek to buy the rest.
Bernard Arnault's Moët Hennessy Louis Vuitton (LVMH) luxury group has made its first move in Burgundy, buying Domaine des Lambrays from Ruth Freund for an undisclosed sum. The domaine includes a near monopoly of the climat Clos des Lambrays.
As of Wednesday morning, Châteaus Smith-Haut-Lafitte, Pichon-Longueville Baron, Prieuré Lichine, Gloria, Suduiraut, Gazin, Chasse Spleen, La Fleur de Boüard and Lynch-Moussas had announced their release prices. But leading négociants and retailers say the wines have failed to create a buzz so far.
A £2m laboratory that is intended to put southern England on the world map for wine research has been opened by the Duchess of Cornwall. Its inauguration coincides with Plumpton College announcing that it will offer the UK's first MSc in viticulture and oenology from September this year.