Davide Campari-Milano SpA reached a preliminary agreement to sell the historic Villa Les Cedres on the French Riviera for 200 million euros ($221 million) to an unspecified buyer for private use.
The villa was among the assets that the Italian distiller acquired with its 2016 purchase of Grand Marnier Group. The transaction is expected to close at the end of October, though there are conditions, including the departure from the house of one member of the family that controlled Grand Marnier, Campari said in a statement.
Read full article by Marthe Fourcade at Bloomberg here.
