LVMH and Hermès clarify peace agreement terms

Published: 3-Nov-2014

LVMH’s Board of Directors will submit a resolution to shareholders on 25 November to approve share distribution

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In a final move to end the long-standing dispute between LVMH and Hermès, the two luxury groups have entered into a settlement agreement to “restore a climate of positive relations between them”.

The terms of the settlement will see LVMH distribute to its shareholders all of its Hermès shares on the understanding that Christian Dior, which currently holds 40.9% of LVMH’s share capital through Financière Jean Goujon, will distribute the Hermès shares that it receives from LVMH to its own shareholders. Distributions are set to be paid on 17 December.

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