CHINA IN EASTERN EUROPE: THE RED GATE FUND IS READY TO BUY ONE OF THE THREE VINARTE ESTATES IN ROMANIA. A 3.6 MILLION EUROS INVESTMENT FOR 94 ACRES OF VINEYARDS, WINE CELLAR, BRAND AND WAREHOUSE

China goes to Romania, and the Red Gate Investment Fund is ready to take over one of the three Vinarte Estates. The wine production center was founded in 1998 by an Italian, Sergio Faleschini, writes the news website "Romania Insider" (www.romania-insider-com). Today, the company is having some financial problems, so the winery, the vineyards and the entire stock of Zoresti winery in Buzau, ended up in liquidation and, according to Vinarte creditors it was the Chinese fund that made the most convincing offer: 3.6 million euros for 94 acres of vineyards, the winery, the brand and the entire warehouse, evaluated alone at 1.6 million euros. The sale will allow the Italian Romanian company to pay its debts, and Beijing to diversify their investments in the wine world, catalyzed by precious vineyards in recent years in France, and now ready to open a gap in Eastern Europe.