Deal #9527

Land area

Size under contract (leased or purchased area)

[current] 160 ha

Size in operation (production)

[2014] 87 ha
[current] 102 ha

Comment on land area

160 ha of land and historical buildings; 102 ha is for vineyards

Intention of investment

[current] Food crops, Tourism

Comment on intention of investment

winery, castle and other historical assets

Nature of the deal

Outright purchase, Lease

Comment on nature of the deal

At first, in 2001 the land was provided under a 50-year lease. Later, in 2009 land assets were purchased together with the full ownership of the entire estate. Domestic investors insisted on privatization in 2009, "having observed a number of instances in which long-term lease agreements concluded in the former political regime have been canceled by the then-new government"

Negotiation status

[2001] Concluded (Contract signed)
[2009, current] Concluded (Contract signed)

Comment on negotiation status

In 2001 - a lease agreement has been signed. The first foreign investor joined the company shareholders in 2002 but the land was lawfully privatized in 2009.

Implementation status

[2003] In operation (production)
[2007, current] In operation (production)

Comment on implementation status

The vineyards were planted in 2003-4. This allowed starting wine production in 2007.