AFP
May 23, 2017
LVMH files public offer regarding taking full control of Christian Dior
AFP
May 23, 2017
The world leader in luxury announced that it has filed a public offer of the Dior couture fashion house with the French AMF on May 22, the next step in its simplification of its structure.
Arnault family company Semyrhamis, which controls 74% of Christian Dior SA, will buy back all Christian Dior shares not held by the Arnault Family Group to bring the public offer to 100%.
"Given the conclusions of independent consultancy confirming the fair terms of the offer, and following the favourable opinion of the ad hoc committee consisting of independent administrators, the board of directors of Christian Dior, who met on the 22 May 2017, recommend unaninimously that the Christian Dior stakeholders tender their shares to the offer," said a press release.
French billionaire Bernard Arnault had earlier announced plans to combine the Christian Dior fashion brand with his LVMH luxury goods empire as part of a 12 billion euro ($13 billion) move to simplify his business interests - a restructuring long demanded by other investors.
AFP with Reuters
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