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Crédit Agricole to sell two Bordeaux estates
Crédit Agricole to sell two Bordeaux estates
Published:  04 February, 2019

Crédit Agricole has decided to sell Bordeaux estates Château Blaignan (Médoc) and Château La Tour de Mons (Margaux) to focus on three others.

The Crédit Agricole Group is the sector’s leading financier in France, owns and operates several vineyards in the Bordeaux and Burgundy regions and is also a minority shareholder in wine-growing companies.

The three other estates which the Group will focus on are Château Grand Puy Ducasse, Château Meyney and Château de Santenay.

“The funds generated by the sale of these two wine estates will be reinvested directly as minority financing (buyout capital or growth capital) for Crédit Agricole Group customers,” said Christophe Blanchy, CEO of Crédit Agricole Investment Capital and Finance.

In addition, Grand Puy Ducasse is undertaking an investment programme to continue to improve the quality of the wines, strengthen the estate’s environmental measures and develop wine tourism in the the Pauillac region, and expects to open a new vat-house and winery in 2021.