PPU advised Chinese winery on Chilean acquisition
Philippi Prietocarrizosa Ferrero DU & Uría advised Changyu on the acquisition of 85 % of Chilean vineyards Viña Indómita, Viña Dos Andes and Viña Santa Alicia from Bethia.
The remaining 15% was acquired by the management of the targets which formed a JV with Changyu.
Changyu Pioneer is China’s oldest and largest winery. The company is listed in the Shenzen stock exchange and headquartered in Yantai, Shandong Province. It already has presence in Asia and Europe. The deal, priced at $50 million, marks Changyu´s Latin American debut.
Bethia, the seller of the wineries, is diversified business holding in Chile with investments in Falabella, LATAM Airlines, Colmena, MEGA and Aguas Andinas.
Partners Rafael Jiménez and Juan Paulo Bambach led the PPU team advising Changyu. The seller relied on in-house counsel.