AFP
Nicola Mira
Jun 7, 2017
LVMH: takeover bid for Christian Dior open from 8th to 28th June
AFP
Nicola Mira
Jun 7, 2017
On 7th June, French financial markets authority AMF has announced that the public offer for the Dior fashion label, filed by world luxury goods number one LVMH, will be open from 8th to 28th June.
"Pursuant to (...) general regulations, the simplified public offer will remain open from 8th to 28th June 2017 inclusive," wrote the AMF in a financial notice, deeming the project to be "compliant" with stock exchange regulations.
As reported at the end of April, LVMH plans to acquire Christian Dior Couture, a wholly-owned subsidiary of the Christian Dior SA holding company, for €6.5 billion.
In parallel, the Arnault family company Semyrhamis, which controls 74% of Christian Dior SA, intends to buy back all Christian Dior minority shareholdings and reach a 100% stake via this simplified public offer.
On 25th April, the world's number one luxury group announced the intention of streamlining its structure and incorporate the prestigious Dior label entirely, through an operation which will also allow Bernard Arnault's family to strengthen its grip on the LVMH group.
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