Sunday, 4 January 2009
Chateau Latour For Sale?
This is an interesting rumour that started last week in The Times.
Apparently Monsieur Pinault the multi millionaire owner of Ch. Latour in Pauillac has been hit hard by the credit crunch. Therefore he is trying to get rid of some of his assets pronto.
He also owns Christies auction house as well as the luxury goods brands Gucci, Yves St. Laurent and Stella McCartney.
Monsieur Pinault bought Chateau Latour in 1993 for €83 million. He is now looking for €150-200 million......but in a realistic market surely this First Growth Chateau and part of France's heritage would fetch nearer €500 million.
The Chateau has 78 hectares in total. But the fruit for the 'Grand Vin' comes from some of the best vineyards in the World...the 47 hectares surrounding the Chateau known as L'Enclos.
Bernard Magrez, who already owns Chateau Pape Clement along with a host of other very smart Bordeaux properties is rumoured to be interested.
It will be very interesting to see if any more Bordeaux Chateaux become available on the market due to the current global financial situation.