Chateau Latour owner Francois Pinault has completed the purchase of Chateau Grillet, the Rhone Valley estate.

As well as Bordeaux's Latour, Mr Pinault also owns Burgundy estate Domaine d'Eugenie, as well as Rennes football club and auction house Christie's.

Now the billionaire has extended his wine interests to the Rhone Valley, taking on the 3.4 hectares of vines at Chateau Grillet, which form their own wine-growing AOC, Decanter notes.

Denis Dubourdieu, the renowned Bordeaux wine consultant who was brought to the estate back in 2001, told the publication that Chateau Grillet is "a magical place".

"[It has] a taste profile very different from Condrieu - more like a great Chardonnay from the Cote d'Or. It is truly one of the great white wines of France," he said.

The Drinks Business reported earlier this week that the 2010 vintage is causing a stir among Rhone Valley producers, with some believing it could be of higher quality than the 2009s.