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Bernard Arnault has offered to buy the 26 percent of Christian Dior that he and his family don’t already own for about €12.1 billion. His aim is to merge Christian Dior’s couture operation into the LVMH luxury goods empire, he said.
The Arnault family is prepared offer a mix of cash and Hermes International stock that values Paris-based Dior at €260 a share, a bid that is 15 percent above the stock price at the end of business on Monday, April 24.
The Arnault family owns about 47 percent of LVMH, whose full name is LVMH Moet Hennessy Louis Vuitton. Arnault said that the offer “illustrate the commitment of my family group and emphasises its confidence in the long-term perspectives of LVMH and its brands”.
Dior investors also can choose all cash or all Hermes stock in the deal.
During his annual address to the press, National Council President Stéphane Valeri was optimistic for 2022, saying "there are reasons to hope that we can get back to a quasi-normal life.”
Nice Côte d’Azur airport ended 2021 with over 6.5 million passengers passing through, higher than expected and fuelled mainly by a strong summer season and the return of long-haul flights.
It is expected to be another mild, sunny weekend at the region’s ski resorts with plenty of standing snow, while Valberg will be hosting a Monte-Carlo Rallye event on Friday.
The celebration of Sainte Devote, Monaco’s Patron Saint, will be held next week, and again this year the Principality is taking adapted measures to ensure the health and safety of all who wish to participate.