WWD.com/business-news/financial/herms-declares-family-members-swapped-shares-3650386/
government-trade
government-trade

Hermès Declares Family Members Swapped Shares

Spokeswoman says no shares were sold to third parties.

PARIS — Several members of the families controlling French luxury goods firm Hermès International bought, sold and exchanged shares in late May and early June at a face value of 130 euros, or $190, per share, according to declarations filed Thursday with French stock market regulator AMF.

A spokeswoman for Hermès said the recent share movements reflected the transfer of shares between different holding companies. “There has been no change in the family’s ownership of the total capital, merely a redirection between different structures,” she said.

The Dumas, Puech and Guerrand families collectively own more than 70 percent of the shares in Hermès International, a limited partnership structure that guarantees they keep control of management.

They have vowed to reinforce their hold on the capital after LVMH Moët Hennessy Louis Vuitton surprised markets by snapping up a 20.2 percent stake in the firm, sparking fears that it would launch a full takeover bid.

Shares in Hermès International closed up 2.1 percent at 191.95 euros, or $254.36, on the Paris stock exchange.