In their announcement, LVMH headed by Bernard Arnault announced that it would buy the 26 percent of shares of the Christian Dior pie that it doesn't now own.
The plan will allow the French luxury conglomerate LVMH Louis Vuitton Moët Hennessy SE to take control of Christian Dior Couture, Christian Dior's operating subsidiary.
"On the strength of its history and favorable prospects, Christian Dior Couture will be a source of growth for LVMH", it said.
- LVMH and the family holding company of controlling shareholder Bernard Arnault announced on April 25 a deal involving Christian Dior that will simplify the structure of the luxury goods empire.
In Paris, LVMH shares were gaining 3.05 percent to 221.25 euros, and Christian Dior shares were gaining 12 percent to 253.90 euros.
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- At the same time, LVMH will buy Christian Dior Couture from Christian Dior for an enterprise value of 6.5 billion euros. Christian Dior in turn owns 41 percent of the shares and 56.8 percent of the voting rights in LVMH. In addition, the Arnault Family Group is making a public offer for the Christian Dior shares it doesn't now hold.
"The corresponding transactions will allow the simplification of the structures, long requested by the market, and the strengthening of LVMH's Fashion and Leather Goods division".
"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".
The initial cash-and-Hermes-shares offer - €172 in cash...
Mr Arnault said the move illustrated his family's commitment and confidence in LVMH and its brands.