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Arnault offers to buy rest of Dior

Arnault offers to buy rest of Dior

By Staff Writer - April 25, 2017

Bernard Arnault. Photo: Jérémy Barande
Bernard Arnault. Photo: Jérémy Barande

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.

 

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