September 6, 2018 / 7:27 PM / 13 days ago

Gulp: U.S.-Colombian billionaire buys into Petrus wine estate

PARIS (Reuters) - U.S.-Colombian billionaire Alejandro Santo Domingo has bought a 20 percent stake in one of Bordeaux’s most exclusive wine estates, Chateau Petrus, two French newspapers reported on Thursday.

FILE PHOTO: An aerial view shows February 29, 2016, the Chateau Petrus surrounded by its vineyards in Pomerol near Saint-Emilion, an UNESCO world heritage site. Picture taken February 29, 2016. REUTERS/Regis Duvignau/File Photo

According to daily Les Echos and the specialist La Revue du Vin de France, the owners of the 11.5-hectare (28.5-acres) estate in Pomerol have valued it at around 1 billion euros ($1.16 billion).

FILE PHOTO: French collector Michel-Jack Chasseuil shows off a Petrus 1914 in his wine cellar as he presents his collection of rare and prestigious vintages which is one of the greatest in the world, in La Chapelle-Baton, France, March 14, 2017. REUTERS/Regis Duvignau/File Photo

Les Echos said the deal was concluded a year ago but had not been made public until now.

Petrus is among the world’s most expensive wines. The 30,000 bottles the vineyard produces each year are sold privately and can fetch up to 4,000 euros each in a good year.

“The arrival of this large-scale family investor is essential to support the development of Petrus in the long term and both families expect to remain associated for a very long time,” owner Jean Moueix was quoted as saying by Les Echos.

Reporting by John Irish; editing by John Stonestreet

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