LVMH to gain control of Christian Dior as Arnault buys out couture arm for €12.1 billion

LVMH to gain control of Christian Dior as Arnault buys out couture arm for €12.1 billion

Bernard Arnault is hoping to bring Christian Dior’s beauty and fashion businesses under one roof, as the French billionaire owner of LVMH offered to buy out the couture arm for €12.1 billion, according to a report published by Bloomberg.

The Arnault family is offering €260 a share to minority investors – in cash or Hermes stock of equivalent value. The deal would simplify the business ownership structure of the French fashion brand – LVMH currently holds a 74 percent stake.

Shares in both companies rose following the news, with LVMH up 4.9 percent and Christian Dior soaring 13 percent.  

 

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