Above: Franco Biondi Santi died on the eve of Vinitaly 2013. This year’s fair is overshadowed by rumors that his legacy winery will be sold to the highest bidder.
According to a report published over the weekend by Il Sole 24 Ore (Italy’s Financial Times), the European financial markets are awash in rumors that the Biondi-Santi winery, a blue chip producer of Brunello di Montalcino, is the focus of a bidding war and may be acquired by one of Europe’s leading luxury groups.
Quoting anonymous sources, financial reporter Nicola Borzi writes that an unnamed law firm in Rome is currently taking bids for the property and its holdings. Initially valued at €55 million, the estate could be sold for us much as €110 million or more, he reports.
The European luxury brand groups LVMH Moët Hennessy Louis Vuitton and Prada are cited as interested parties. A third potential bidder is not named by the report.
In a statement issued by its lawyer, the winery claims that the rumors are unfounded. And LVMH and Prada both declined to comment, writes Borzi.
Franco Biondi Santi’s son Jacopo Biondi Santi also declined to comment on the report according to a statement issued by his lawyer.