Société du Louvre S.A.S. (“SDL”), a wholly-owned affiliate of Starwood Capital Group Global LLC (“Starwood Capital”) announced 31 July, 2006 that after having received all required regulatory approvals, it has closed the sale of Taittinger C.C.V.C (“CCVC”) to an affiliate of Crédit Agricole du Nord Est.
CCVC wholly owns Taittinger Champagne, one of the “grandes maisons” of the champagne region whose roots date back to 1734. In addition, CCVC holds a 75.9% interest in Domaine Carneros, a prestigious California-based still and sparkling wine manufacturer and marketer.
Earlier this month, SDL sold Bouvet-Ladubay, the leading Saumur sparkling wine company and a wholly-owned subsidiary of CCVC, to an affiliate of United Breweries of India for an undisclosed sum.
No further transaction terms were disclosed.
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