Business Services Industry
Argentina: Donaldson Lufkin & Jenrette buys stake in Santa Ana.
South American Business Information, May, 1999
The investment fund Donaldson Lufkin & Jenrette is to acquire the shares held by Empresas Santa Carolina into the Argentinean winery Bodegas Santa Ana. Donaldson already has a 20% minority share into the winery & beverages company Penaflor for which it paid US$40mil by ealry 1998, and may add to its wine assets ABC (Alimentos y Bebidas Cartellone) that controls Resero winery. Santa Carolina has acquired in 1996 a 65% stake in Bodegas Santa Ana for which it paid US$20mil. In 1997 Santa Ana posted a US$64mil turnover and is investing US$30mil to expand capacity and increase sales by 30%. The Argentinean wine business is estimated at US$2bil, and 30% of the wineries output is fine wine.
Source: El Cronista Page: 18 Date: May 5, 1999 Country: Argentina...
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