Bordeaux second growth Cos d'Estournel has just been sold to a major industrialist for an undisclosed sum.
The chateau (pictured), whose wines are considered among the best in the Medoc, has been bought by Geneva-based food manufacturer Michel Reybier, an individual who has 'long been interested in Bordeaux,' Cos d'Estournel president Jean-Guillaume Prats told decanter.com today.
The deal was finalised last Monday, ending two years of disagreement and conflict between the shareholders, the Taillan group and Argentinian conglomerate GVM.
The shareholders were unable to agree on overall strategy over the sale of the chateau, and Reybier stepped into the breach to the satisfaction of all concerned.
Prats - who will continue as president - says, 'Mr Reybier wishes me to say on his behalf that the management, philosophy and strategy of Cos d'Estournel will continue unchanged.'
For his part, Prats himself is pleased with the sale. 'I find it extremely constructive for Bordeaux,' he says. 'It is reassuring that wealth from abroad continues to be invested in the region.'
He added there was no danger Reybier would interfere in the running of the chateau. 'I have known M Reybier for some years, I know his strategy and I know he will not interfere in any way.'
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