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Sexwale radically ups his stake in wine industry
9 March 2008

Ex-politician was the last-minute buyer of Bloemendal

 

It has been revealed that the well known Durbanville wine estate Bloemendal was sold by the Coetzee family to well-known businessman Tokyo Sexwale. The sale was shrouded in secrecy when a public auction was called off at the last minute, but the Cape Argus reports that former ANC politician Tokyo Sexwale's Mvelaphanda Holdings, through its agricultural subsidiary Indima, paid R105 million for the historic farm with its two restaurants, 16 labourers' cottages, conference centres, wine cellar, as well as its wine stock and equipment.

The sale was confirmed by Sexwale’s spokesperson, Chris Vick. Sexwale’s company already owns a quarter share of neighbouring farm D’Aria, and the magnate owns Elephant’s Pass Vineyards in Franschhoek, where he is a patron of the tourist association – although reference to Elephant’s Pass somewhat mysteriously vanished from mention in the Platter wine guide half a decade back and little has been heard of it since. Sexwale also heads a consortium with a substantial interest in Constantia Uitsig. The rumour in that case was that it was less the wine that interested the capitalists than the possibility of replacing vineyards with expensive housing and golf-estates; such rumours have not been entirely absent from the sale of Bloemendal.

A local Durbanville wine grape producer apparently joked this week that Sexwale’s purchase instantly ‘fixed’ the wine region’s BEE (black economic empowerment) requirements. In an industry where black involvement is almost entirely at the hard-working, impoverished end, Sexwale has brought just a little more much-needed political respectability.

 

 

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