KWV is South Africa's second biggest vintner

KWV said it would sell 25% of its shares to a black-led investment group, Pethogo Investments.

The deal furthers the government's objective of giving the black majority a bigger stake in South Africa's largely white-owned economy.

Pretoria is particularly keen to foster such deals in successful industries such as winemaking and mining.

Empowerment targets

The KWV transaction - worth some 200 million rand ($30m) - comes ahead of an official black empowerment charter for the wine industry, to be unveiled next month.

The charter is expected to set out targets for the transfer of wine business ownership to black people.

KWV chief executive Willem Barnard said the firm was offering the shares to Pethogo at a discounted price because it believed the deal was "in the interests of the company."

"We are excited about the fact that we have created a win-win situation for all participating parties, while at the same time taking the lead in an industry sector which has yet to create an empowerment charter," said Pethogo chief Victor Christian.