Gerard Perse's $44 million purchase of Château Petit-Village, a well-known Bordeaux wine estate in Pomerol, has been postponed for a year, after the vintner agreed to pay what was reported to be the highest price per-hectare ever for a vineyard in the region.
"We have agreed to give him time to complete the purchase," said Christian Seely, managing director of AXA Millésimes, which owns and manages Petit-Village. "If Mr. Perse completes the purchase in the time frame we have given him, he will become the owner."
Perse has publicly said that he was reconsidering his record-breaking purchase in view of the downturn in the global economy and the general decline in the sale of expensive Bordeaux wines. He is the owner of several high-end wine producers in St.-Emilion including châteaus Pavie, Pavie-Decesse and Monbousquet.
If Perse declines to buy Petit-Village, Seely said AXA would not seek a new buyer. "We were not looking for a buyer in the first place -- the overture came from Mr. Perse," he said.
--Wine Spectator staff
Check our recent ratings of Petit-Village wines.
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