O Fournier to sell vineyard plots in Spain to wine buffs

London

JOSE Manuel Ortega's winery O Fournier is planning to sell managed plots of vineyard land it owns in Spain's Ribera del Duero to wine collectors and enthusiasts, extending a programme it piloted in Argentina's Mendoza region.

Mr Ortega said that he plans to sell 22 lots spread across 34 hectares in the Spanish wine area after investors bought 70 per cent of plots covering 140 hectares in Mendoza over three years at about £120,000 (S$252,000) a hectare.

The proceeds would help O Fournier fund expansion plans and improvements at its properties in Chile, Argentina and Spain without need for banks or other financing, according to Mr Ortega, a Spaniard who joined the wine trade after working for Goldman …