No concord on art at AGM
Copelyn in scrap over multi-million-rand private art collection
The sale of a valuable art collection owned by La Concorde is probably unlikely, but that didn’t stop shareholders from wading in
The AGM of La Concorde Holdings — the unlisted company created to house the leftover assets after the sale of KWV’s liquor business last year — should have been an occasion to canvass support for a new strategic direction for the cash-flush vehicle. Instead, some shareholders tried to paint La Concorde executives into a corner around the fate of a valuable art collection. La Concorde is expected to detail proposals for the injection of new operating assets into the company within three to four months. La Concorde will also be split into two companies. One will house the heritage assets that include its head office in Paarl’s Main Street, the Laborie wine estate and other properties as well as an extensive local art collection. The other will retain the proceeds from the KWV asset sale to Viv Imerman’s Vasari Group, and acquire new operating assets. In Paarl last week, however, much of the proceedings were taken up by a debate around the fate of KWV’s art collection — which is mostly...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.