Monday, October 25, 2010

France:LVMH buys stake in HermГЁs International

LVMH buys stake in HermГЁs International


LVMH buys stake in HermГЁs International

LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, announces that it holds 15 016 000 shares of Hermès International, representing 14.2% of the share capital of the company.

The objective of LVMH is to be a long-term shareholder of HermГЁs and to contribute to the preservation of the family and French attributes which are at the heart of the global success of this iconic brand.

LVMH fully supports the strategy implemented by the founding family and the management team, who have made the brand one of the jewels of the luxury industry.

LVMH has no intention of launching a tender offer, taking control of HermГЁs nor seeking Board representation.

LVMH holds derivative instruments over 3 001 246 HermГЁs International shares and intends to request their conversion.

LVMH would then hold a total of 18 017 246 Hermès International shares, or 17.1% of its capital. The total cost of this shareholding would, in this case, be €1.45 billion.

LVMH MoГ«t Hennessy Louis Vuitton is the world's leading luxury goods group. The Group is represented in Wines and Spirits by a portfolio of brands that includes MoГ«t & Chandon, Dom PГ©rignon, Veuve Clicquot Ponsardin, Krug, Ruinart, ChГўteau d'Yquem, Hennessy, Glenmorangie, Ardbeg, Belvedere Vodka, Chopin, 10 Cane, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Green Point, Cape Mentelle, Newton. 

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