Arnault Family Merges Christian Dior and Agache to Streamline LVMH Ownership
Overview of the Arnault Family’s LVMH Shareholding Restructuring
PARIS, Sept 23 (Reuters) - The family of French billionaire Bernard Arnault unveiled a plan to simplify the shareholding structure of the luxury group LVMH through Christian Dior, which also belongs to the family, a Dior statement said on Wednesday.
Details of the Merger
Agache and Christian Dior Consolidation
• The Arnault family will merge its holding company Agache with Christian Dior. Agache currently owns 96% of Dior shares and 97.1% of the voting rights in Christian Dior and 6.77% in LVMH and 8.49% of the voting rights in LVMH.
New Entity Structure and Control
• The new entity will be named Agache and it will control directly 49.76% in LVMH and 65.55% of voting rights.
Merger Timeline and Offer Details
Tender Offer for Remaining Christian Dior Shares
• The merger, expected in December, will include a tender offer for the 2.44% of the Christian Dior shares Agache does not own. The Arnault family will offer a price to be defined based on the market price of the LVMH share price.
Listing Status of the New Entity
• The Arnault family does not plan to delist the shares of the new entity.
Current Ownership and Voting Rights
Arnault Family’s Control Over LVMH
• The Arnault family controls 50.33% of LVMH and 66.27% of the voting rights.
Reporting and Editorial Credits
(Reporting by Inti Landauro; Editing by Sanjeev Miglani)
