October 20, 2014 / 1:06 PM / 3 years ago

LVMH unveils terms of Hermes share redistribution

PARIS, Oct 20 (Reuters) - LVMH unveiled the terms of a planned redistribution of its Hermes shares to its shareholders on Monday as part of a truce signed between the two luxury groups last month.

LVMH, the world’s biggest luxury group and owner of fashion brands Dior and Louis Vuitton, said its shareholders would receive two Hermes shares for every 41 LVMH shares held under an exceptional distribution plan.

In September, LVMH agreed to offload its stake in Hermes to end hostility between the two groups that started in 2010 when LVMH revealed it had started building a holding in Hermes, a move its smaller rival regarded as hostile. (Reporting by Astrid Wendlandt; Editing by James Regan)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below