LVMH to Buy Chistian Dior Couture for EUR6 Billion
April 25 2017 - 2:49AM
Dow Jones News
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)
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