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Wiese sells Lanzerac to foreigners

Mar 07 2012 16:21
Fin24

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SHOPRITE HOLDINGS LIMITED [JSE:SHP]

Last traded 192
Change 0
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Cumulative volume 1375692
Market cap 0

Last Updated: 09-12-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Shoprite Holdings [JSE:SHP] chairperson Christo Wiese has sold his wine estate Lanzerac outside Stellenbosch to a foreign buyer for an undisclosed amount.

Wiese confirmed the sale of the farm, which includes a five-star hotel, on Thursday. He bought the place in 1991 and refurbished and expanded it.

“It has been sold as a going concern and the new owner is keen to continue with it in its present form,” Wiese said. “All members of staff are being retained.”

Wiese, who also owns the large agricultural enterprise Lourensford outside Somerset West, said he was scaling down his farming to devote more time to his retail and other business interests.

shoprite  |  christo wiese  |  wine industry  |  wine farms

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