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Villa Maria in conditional sale to NZ-owned wine company Indevin

Villa Maria in conditional sale to NZ-owned wine company Indevin
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Villa Maria Estate set to be sold to Indevin

Villa Maria Estate set to be sold to Indevin
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Villa Maria's parent company owes banks $211.9m, receivers' report says.

Its assets are yet to be confirmed. In the lead up to the appointment of receivers Villa Maria came under pressure due to issues with the group s financial structure, the report said. The group had been running a process to raise equity and sell surplus land in Mangere, Auckland. Receivers had helped Villa Maria directors sell the land, it said. Shares in Villa Maria were being sold but details relating to the sale process were commercially sensitive, the report said. In May Gibson said Villa Maria had been looking to raise capital. New investment or a sale of shares had been considered, and it was decided all shares in Villa Maria Estate would be sold, he said at the time.

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Sir George Fistonich's parent company of Villa Maria in receivership

Sir George Fistonich s parent company of Villa Maria in receivership 18 May, 2021 05:24 AM 2 minutes to read Sir George Fistonich founded Villa Maria Estate winery in 1961. Photo / Brett Phibbs The parent company of New Zealand wine business Villa Maria Estate has been placed into receivership. Brendon Gibson and Neale Jackson of Calibre Partners confirmed today that they had been appointed as receivers to FFWL Limited. FFWL is 100 per cent owned by Sir George Fistonich, the founder of Villa Maria. Gibson stressed that the receivership of the parent company would not have an impact on the winery or any of its international subsidiaries.

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Sir George Fistonich's parent company of Villa Maria in receivership

Sir George Fistonich's parent company of Villa Maria in receivership
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