Yantai Changyu Pioneer Wine Company Limited (SZSE:200869) agreed to acquire 85% stake in Bodegas Bethia Group for approximately $48 million on May 30, 2017. Changyu will own 100 percent of Vina Indomita SA and Vina Dos Andes SA and 80 percent of Bodegas Santa Alicia SPA. Bethia had revenue of $38.02 million in 2016. GBS Financial Corp. acted as financial advisor to Yantai Changyu Pioneer Wine Company Limited (SZSE:200869). The transaction is estimated to be concluded at the end of June, once relevant authorizations have been obtained in China.