Thesouthafrican.com
The transaction, which was completed for an undisclosed amount in July, marks the first occurrence of a Chinese multinational investing in South Africa’s vineyards.
Yangzhou-based Perfect China has made the Asian country’s first investment in South Africa’s wine industry, acquiring the Val de Vie estate in the Western Cape in a deal expected to boost exports of South African wine to the Far East.
Perfect China, through its 51% shareholding in Perfect Wines of South Africa, purchased the 25-hectare wine farm between Paarl and Franschhoek that includes 21 hectares of vineyards, a manor house and wine cellar.
Perfect Wines of South Africa was established as a joint venture between Hein Koegelenberg from Leopard’s Leap and La Motte and Perfect China in 2011.