South project, a company belonging to Bank Rossiya, has become the owner of the Crimean winery Massandra, according to the website of the Russian Unified Electronic Trading Platform.
Photo courtesy of: RIA Novosti
The fixed capital of Sandra Winery is 3.6 billion rubles (about 320 million yuan). The starting price for the winery at the auction was 5.3 billion rubles (about 470 million yuan), and each bid must not be less than 26.5 million rubles (about 2.36 million yuan). The potential buyers for the auction are two companies, Estate Group LLC and South Project.
South project finally became the beneficial owner of Masandra Winery for 53,271,77370 rubles (about 474 million RMB).
At the end of 2017, South project had also spent 1.5 billion rubles (about $133 million) to acquire all shares of the state-owned Novy Svet champagne plant in Crimea, located in Sudak.
South project is registered in St. Petersburg and is a subsidiary of Bank of Russia. estate Group is registered in Moscow. Masandra Winery is the largest winegrowing and winemaking enterprise in Crimea, founded by Grand Duke Gleitzen in 1894. In addition to the main winery, there are 8 branch wineries, each with a long history. The total area of Massandra"s vineyards is about 4,000 hectares, stretching 180 kilometers from Foros to Sudak. Massandra was the first company in Russia to receive a license to produce wine with a protected geographical indication. Its wine collection has exceeded one million bottles.