French billionaire Bernard Arnault takes full control of Christian Dior
The deal will unite the iconic fashion label with the Christian Dior perfume and beauty business already
Paris — French billionaire Bernard Arnault will combine the Christian Dior fashion brand with his LVMH luxury goods empire as part of a €12bn move to simplify his business interests — a restructuring long demanded by other investors. Under a series of complex transactions, LVMH, the world’s largest luxury group, will buy the Christian Dior Couture brand from the Christian Dior holding company for €6.5bn, including debt. The deal will unite the 70-year-old fashion label worn by film stars Jennifer Lawrence and Natalie Portman with the Christian Dior perfume and beauty business already owned by LVMH. The Arnault family, which holds a 47% stake in LVMH, will also offer to buy the 25.9% of the Christian Dior holding company it does not already own for about €260 per share, a premium of 15% over Monday’s closing price. The 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 6...
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