LVMH to acquire Italy's Bulgari
Source: Agencies |
March 8, 2011, Tuesday
|
Print Edition
Print Edition
FRENCH fashion colossus LVMH (Moet Hennessy Louis Vuitton) is adding another jewel in its crown.
The Paris-based holding company behind luxury brands Christian Dior, Dom Perignon and Guerlain has agreed to buy Rome-based jeweler Bulgari SpA in a cash-and-shares deal that will see Bulgari's founding family become the second largest family shareholders in LVMH.
LVMH said in a statement it will exchange 16.5 million of its own shares for the 152.2 million shares in Bulgari owned by the company's founding family.
LVMH will offer the remaining Bulgari shareholders 12.25 euros (US$17.10) per share in a public offering.
Bulgari, the smallest among the major luxury watch and jewelry makers, was started in 1884 by Sotirios Bulgari.
The Paris-based holding company behind luxury brands Christian Dior, Dom Perignon and Guerlain has agreed to buy Rome-based jeweler Bulgari SpA in a cash-and-shares deal that will see Bulgari's founding family become the second largest family shareholders in LVMH.
LVMH said in a statement it will exchange 16.5 million of its own shares for the 152.2 million shares in Bulgari owned by the company's founding family.
LVMH will offer the remaining Bulgari shareholders 12.25 euros (US$17.10) per share in a public offering.
Bulgari, the smallest among the major luxury watch and jewelry makers, was started in 1884 by Sotirios Bulgari.
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