Campari offloads Villa Les Cèdres
Italian drinks group Campari has completed the sale of historic mansion Villa Les Cèdres in St-Jean Cap Ferrat for €200 million, making it on of the most expensive properties ever sold.
First announced on 1 August, the sale of the luxury property was completed today (31 October) in a sale worth €200m of which Campari will retain €80m.
The house and its botanical gardens were once the property of King Leopold II of Belgium and was acquired by Campari when it bought Société des Produits Marnier-Lapostolle – the makers of Grand Marnier – in 2016.
Fifty-two million six-hundred and ninety thousand euros of that €80m will now be paid to the former shareholders of Marnier-Lapostolle as agreed at the time of the sale.