Changyu invests in Spanish wine
By Wang Zhuoqiong And Ju Chuanjiang | China Daily USA | Updated: 2015-09-02 08:39
Company set to spend $29.5m on second overseas move after buying French cognac producer in 2013
Yantai Changyu Pioneer Wine Company Ltd, a leading winery based in Xinjiang Uygur autonomous region, is planning to take a 75 percent stake in the Spanish wine maker Dicot Partners SL, which officials said will help the Chinese firm globalize its brand portfolio.
The company is set to spend a total 26.25 million euros ($29.5 million) on the acquisition.
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