• France edition

Chinese vineyard buyer 'passionate' about wine

Published: 28 Aug 2012 08:59 GMT+02:00 | Print version
Updated: 28 Aug 2012 08:59 GMT+02:00

A Chinese businessman who sparked a bout of anxious introspection in France with his purchase of an historic Burgundy vineyard is a low-profile casino executive with a passion for wine, friends and analysts said.

Louis Ng has shunned the French media spotlight since buying the 12th-century Château de Gevrey Chambertin for €8 million euros ($10 million) earlier this year, an investment that sent shockwaves through the French wine industry.

A top executive for Macau gambling tycoon Stanley Ho, the 60-year-old has pledged via a representative in France to invest significant sums to restore the château and upgrade its wine production.

But the investment, which includes two hectares (five acres) of vineyards in one of Burgundy's top appellations, triggered an angry backlash from local winemakers and the far-right Front National, which said the property should stay in French hands.

Hong Kong-based wine expert and author Jeannie Cho Lee, who is friends with Ng, said the businessman had a genuine passion for wine and could be trusted to manage the estate.

"Louis Ng is a special Chinese wine collector who has a lot of experience in wine. He is one of the most passionate and knowledgeable wine collectors in Asia that I know, who has been enjoying and buying wine for over 20 years," she told AFP.

"I am sure that given his genuine love for wine and for Burgundy, he will lovingly restore Château Gevrey-Chambertin to its former glory."

A representative for Ng – who lives in Hong Kong but also holds Portuguese citizenship – said the new owners would be making use of local winemakers to
tend the vines and local craftsmen to restore the 900-year-old building.

"The chateau will be renovated by a French architect who is known for his work on sites of national heritage across Burgundy," the representative said
in a statement.

Ng did not respond to requests for comment.

Jean-Michel Guillon, the president of the Gevrey-Chambertin winemakers syndicate, said last week that a group of locals had attempted to buy the château with the idea of making it into a visitor and reception centre.

"The owners wanted seven million and they sold it for eight," Guillon said. "I hope this is not the start of a wave of foreign investors moving into Burgundy."

Unlike its rival Bordeaux, Burgundy remains dominated by relatively small estates run by winemakers who, regardless of how prosperous they may have become in recent years, regard themselves as farmers first and foremost.

Properties generally get passed down from generation to generation, making foreign ownership relatively rare, again in contrast to Bordeaux where Chinese
investors have established a strong presence.

"We have seen quite a number of Chinese buying property in Bordeaux over the past five years," said Lee, who is a wine consultant to one of Macau's biggest casino operators, Galaxy Macau.

"Most have focused on Bordeaux for obvious reasons and it was only a matter of the right opportunity came up for a Burgundian property."

She said that China's arrival as a major wine market and source of investment was bound to generate opposition.

"If you look back at the period when Japanese first became enamoured with wine in the 1980s and 1990s, there was quite a stir because Japanese started buying Bordeaux properties and investing in Burgundy domaines," she said.

"It is the same thing now with the Chinese."

Davis Fong, director of the Institute for the Study of Commercial Gaming at University of Macau, said Ng was a very senior and long-term associate of Ho, whose SJM Holdings operates 17 casinos in the former Portuguese colony.

Ho once dominated the casino industry in the southern Chinese territory, the only place in China where casino gaming is legal, but he has had to share the spoils since the market was opened to foreign investors a decade ago.

Since then it has boomed as the gambling capital of the world, with revenues four or five times higher than Las Vegas thanks to VIP high-rollers from China who account for some 70 percent of the city's casino earnings.

Ng's responsibilities include managing the VIP business for SJM, Fong said.

"He is very senior but the information about him in the public literature is quite limited. I only know that he's a very important guy and a decision maker," he said, adding that in Macau's glitzy casino business it was wise to stay below the radar.

"He is very low-profile. Keeping a low profile is a good thing."

AFP (news@thelocal.fr)

What do you think? Leave your comment below.

Your comments about this article:

The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.

ADD YOUR COMMENT   (YOU MUST LOG IN OR REGISTER TO MAKE A COMMENT)
Today's headlines
French Face of the Week
A French Psy who made Cannes stars see double
Is it Psy or is it Denis Carre from rural France. Photo: Naomie Harris /AFP

A French Psy who made Cannes stars see double

Not everyone gets the chance to party with the stars at the Cannes festival for two days, unless that is, you are the French double of 'Gangnam style' entertainer Psy and you have the nerves of steel to pretend to be him. Meet Denis Carre our undisputed French Face of the Week. READ () »

Diamond necklace 'worth €2m stolen' at Cannes

Diamond necklace 'worth €2m stolen' at Cannes

Jewellery thieves have had some rich pickings at Cannes this year with jewellers announcing on Thursday that a €2million diamond De Grisogono necklace had been stolen, just days after €1.4 million worth of Chopard bling was pilfered. READ () »

My French Career
'Some French academics are resistant to change'
Photo: HEC

'Some French academics are resistant to change'

Higher education has dominated the news in France recently thanks to plans for more courses to be taught in English so there's no better time to speak to an international academic to find out more about being a lecturer at a French university. READ () »

Teacher uses swastika in French geometry class
A swastika, used by a teacher to explain geometry. Photo: OZ13X/Flickr

Teacher uses swastika in French geometry class

Of all the inappropriate shapes a teacher could use to teach geometry a swastika has to be near the top of the list, but not for one prof in France, whose use of the Nazi symbol to demonstrate angles has landed her in a spot of bother. READ () »

French MPs back English courses plan for unis
Photo: Flickr

French MPs back English courses plan for unis

A contentious proposal that would see more courses at French universities taught in English was given the green light by deputies in the French parliament on Thursday. Critics say the move will lead to France losing its identity. READ () »

France confirms fatalities in attack on Areva plant

France said on Thursday that there were dead among the victims of twin bombings at a uranium processing plant owned by French nuclear giant Areva and a military base in northern Niger. READ () »

British fraud suspect found dead in French jail
British fraud suspect found dead in French jail. File photo: X1klima/flickr

British fraud suspect found dead in French jail

A British national, suspected of being the mastermind of €1.6 million bank fraud scam in France was found hanged in his cell in a French prison this week. READ () »

Hollande to fete Merkel's political opponents
Photo:AFP

Hollande to fete Merkel's political opponents

Germany's opposition Social Democrats mark their 150th birthday Thursday, with French President Francois Hollande as the only foreign speaker and conservative Chancellor Angela Merkel in the audience. READ () »

French schools must display Republican motto
File photo

French schools must display Republican motto

Liberté, egalité, fraternité, the famous motto of the French Republic must be displayed on the facade of all French schools and the Tricolour flag must also be on show outside all establishments, the French Senate ruled on Wednesday. READ () »

IMF's Lagarde in Paris for high stakes court grilling
IMF chief Lagarde face Frecnh court this week. Photo: AFP

IMF's Lagarde in Paris for high stakes court grilling

French prosecutors investigating corruption are set to decide on Thursday whether to charge IMF chief Christine Lagarde over her handling of a row that resulted in a €400 million payout being paid to disgraced businessman Bernard Tapie. READ () »

Highlights
Photo: M&S
Hollande's first year: Top 10 Nightmare Moments
Revealed: France's Best Restaurants in 2013
French Face of the Week
French politicians reveal their wealth
Ten best chat-up lines to use in French
Opinion
Ten most embarrassing mistakes to avoid in French
Fred Dufour/AFP
Photo: AP
Simone Ramella
Latest news from The Local in Sweden

More news from Sweden at thelocal.se

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Norway

More news from Norway at thelocal.no