LVMH Agrees to Buy Hotel Operator Belmond
December 14 2018 - 2:55AM
Dow Jones News
By Anthony Shevlin
LVMH Moet Hennessy Louis Vuitton SE (MC.FR) said Friday that it
has reached an agreement to buy hotel operator Belmond Ltd.
(BEL).
The French luxury-goods company said that it will pay $25 for
each class-A share in Belmond, representing an equity value of $2.6
billion and an enterprise value of $3.2 billion.
The transaction is expected to close in the first half of 2019,
LVMH said.
The Wall Street Journal late on Thursday had reported that LVMH
was close to securing a deal to buy the London-based business.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com;
@anthony_shevlin
(END) Dow Jones Newswires
December 14, 2018 02:40 ET (07:40 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
LVMH Moet Hennessy Louis... (PK) (USOTC:LVMUY)
Historical Stock Chart
From Mar 2024 to Apr 2024
LVMH Moet Hennessy Louis... (PK) (USOTC:LVMUY)
Historical Stock Chart
From Apr 2023 to Apr 2024
