Life Style
Asia's King Power snaps up Bordeaux estate
Asian duty-free specialist King Power has acquired the Bordeaux wine
estate Chateau Bernadotte from Champagne Louis Roederer for an
undisclosed sum, the company said Thursday.
King Power, which has offices in Bangkok and Hong Kong, also has
investments in food and beverages, including wine interests in China,
real estate, manufacturing, sports, brand development and leisure.
The acquisition of Chateau Bernadotte marks a new departure for the
company, broadening its drinks and retail strategy, while capitalising
on a synergy between its various activities.
Chateau Bernadotte operates a 40-hectare vineyard in Bordeaux's
prestigious Medoc region, producing 200,000 bottles a year.
It is ranked as a Cru Bourgeois, below the level of classed growth
wines but still considered to be of good quality. A bottle of a recent
vintage would retail at the cellar door for around 10 euros ($13).
The property was acquired by Roederer in 2007 when the Champagne
family bought second growth Chateau Pichon Longueville Comtesse de
Lalande.
Roederer has invested millions in renovating and improving their
Bordeaux properties, but this is the second estate it has let go,
following the sale of Chateau Reaut to a group of investors.
Originating in Hong Kong, King Power is a major player in the duty
free sector across Asia. It operates a retail network carrying an
extensive portfolio of top drawer brands, including Cartier, La Perla
and Godiva. In 2006, the group acquired French costume jewellery chain
Agatha.
In the drinks business, it already distributes brands including
Hennessey, Remy-Martin, Courvoisier, Dom Perignon, and Bordeaux first
growths Chateau Lafite-Rothschild and Chateau Mouton-Rothschild.
AFP
Singapore resort urged to free dolphins
Animal rights activists on Friday renewed calls for a Singapore
casino complex to free dolphins it acquired for a marine park,
threatening to campaign for a boycott if their demand is ignored.
The Animal Concerns Research & Education Society (ACRES) of Singapore
claimed the bottlenose dolphins were "being housed in appalling
conditions, in tiny barren swimming pools" at Resorts World Sentosa (RWS).
"ACRES is issuing a final ultimatum to RWS: work with ACRES and Earth
Island Institute to rehabilitate and release the dolphins back into the
wild," the animal rights group said in a statement.
Failing this, ACRES warned that it "will launch a full-fledged
boycott against not just Resorts World, but all Genting properties" next
month, the statement said.
RWS is owned by Malaysian business group Genting.
ACRES' call coincided with a grand celebration on Friday by the
casino resort to mark the full operation of all its attractions, which
also include a Universal Studios theme park, hotels and Singapore's
first casino.
The marine park is billed as the world's biggest oceanarium.
"We have tried our very best to establish a dialogue with RWS, but
they have ignored our calls for meetings and turned a deaf ear to our
concerns," said ACRES chief executive Louis Ng.
AFP |