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Belgian billionaire to sell private wine for family foundation

Albert Frere, the billionaire founder of Compagnie Nationale a Portefeuille, is auctioning part of his private wine cellar next month to raise money for the Charles-Albert Frere foundation.
The event will be held by the London-based auction house Sotheby's on 23 September and will be the third of its kind to raise money for the Frere foundation, which supports disadvantaged adults and children in difficulty. The wine and champagne on offer ranges in vintage from 1985-2005 and is expected to raise as much as £900,000. The last two auctions, in 2003 and 2006, raised £1.8 million between them.
Frere (pictured) set up the foundation in 2000 after his son was killed in a car accident. He said: "I am very pleased to offer some of the greatest wines from my cellar to benefit a cause that is so dear to my heart."
Frere grew his father's scrap-metal business into a global investment conglomerate covering many industries including media, utilities and oil. Compagnie Nationale a Portefeuille now has revenues of €15 billion and Frere's son, Gerald Frere, is chairman of the family-controlled business.
The family's wine credentials are bolstered by its co-ownership of the Chateau Cheval Blanc vineyard In Bordeaux, along with another family business, LVMH Moet Hennessy Louis Vuitton SA. 

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