LVMH the luxury goods conglomerate who own Louis Vuitton and Don Perignon among other brands, finalised its percentage stake in Hermes at 17pc.
The deal which was finalised on Saturday, saw LVMH buy at 14.2 percent stake in Hermes for 1.3 billion euro. This holding was then added to their 3 million derivative options, culminating in the 17pc stake.
"LVMH also admitted for the first time on Saturday that it owns 3m derivative options – thought to have been built up in the past two years – which it plans to turn into Hermès shares. "
It is thought that this move is likely to increase Hermes share value considerably.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8083916/LVMH-closes-in-on-17pc-stake-in-Hermes.html
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