Iconic wine estate sold

Czech-born billionaire Zdenek Bakala and British national Charles Harman have bought Klein Constantia for a reported R198m. Harman and Bakala are said to be particularly attached to Cape Town - they return to the city each year for the Cape Argus Pick n Pay Cycle Tour.

Bakala is valued at $2 billion (R13.9bn), according to Forbes Magazine, making him the 595th richest billionaire in the world. He is said to have made his millions mining iron ore in the Ukraine. He then settled in the US where he has worked as an investment banker.

Wine writer Neil Pendock said it was a great pity the historic farm would be in foreign hands.

"The Vin de Constance is South Africa's only wine icon. It was the favourite wine of Napoleon. So, it is a pity for the South African wine industry. It would have been great if South African investors had bought the farm. But I don't blame the Jooste family for taking the best deal," he said.

Pendock said that the foreign owners would make exports of the wine easier, especially to the US where, he said, Bakala would have a lot of

Cape Times

Posted at 09:06AM May 30, 2011 by Editor in Agricultural  |