By  on April 14, 2013

SINGAPORE — L Capital Asia, the private equity fund set up by LVMH Moët Hennessy Louis Vuitton, has bought 49.9 percent of Australian heritage outfitter R.M. Williams.

A price for the transaction was not disclosed, but press reports estimate that L Capital spent around 50 million Australian dollars, or $52.5 million at current exchange, on the deal. LVMH’s investment arm typically takes out minority stakes in companies, though it purchased a majority holding in Melbourne-based food emporium Jones the Grocer last year.

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