LVMH to consolidate hold on Dior in multibillion-euro deal

13 billion for Dior? That's LVMH's bid

The announcement said LVMH, which already owned Christian Dior cosmetics and perfumes, would buy Christian Dior Couture for 6.5 billion euros ($7.1 billion).

LVMH has announced this morning that it is to integrate the entire Christian Dior label into the luxury group.

French luxury group LVMH has agreed to acquire fashion brand Christian Dior's final 26 %. For the last 12 months which ended March 31, Christian Dior reported revenue in excess of 2 billion euros, with an operating profit of 270 million euros.

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"On the strength of its history and favorable prospects, Christian Dior Couture will be a source of growth for LVMH", it said.

In a statement, the companies noted that the Arnault Family Group, which controls LVMH, would purchase all the shares of Christian Dior it doesn't already own for 172 euros each in cash and 0.192 in Hermès global shares.

LVMH will pay 260 euro per share and shareholders can choose to be paid in cash or to get Hermes shares in return.

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Mr Arnault said the move would simplify a complicated ownership structure, "long requested by the market", and strengthen LVMH's fashion and leather goods division.

The simplification of the shareholder structure appeared to please investors and LVMH shares were showing a gain of around three per cent on the Paris stock exchange in response to the news, while the blue-chip CAC 40 index was up just 0.1 per cent.

"The development of Christian Dior Couture will be notably supported over the coming years by a new creative momentum and significant investments already completed, notably in America, China and Japan".

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"We see a number of positives", said Exane BNP Paribas analyst, Luca Solca.

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