By Matthew Dalton 

PARIS--French luxury conglomerate LVMH Louis Vuitton Moët Hennessy Tuesday said it would take full control of Christian Dior Couture, in a transaction that values the iconic fashion brand at EUR6 billion ($6.51 billion).

The deal shakes up LVMH's complex corporate relationship with Christian Dior and the Arnault family, including Bernard Arnault, LVMH's founder and chief executive. The family owns 74.1% of Christian Dior, which in turn owns a controlling stake in LVMH.

Under the deal, the Arnault family is offering to buy the 25.9% of Christian Dior shares it doesn't own, valuing that stake at EUR12 billion, or EUR260 a share.

LVMH will then buy Christian Dior Couture, the fashion subsidiary of Christian Dior, for EUR6 billion, the company said.

Write to Matthew Dalton at Matthew.Dalton@wsj.com

(END) Dow Jones Newswires

April 25, 2017 02:34 ET (06:34 GMT)