PARIS — The Arnault family has upped its stake in Christian Dior SE, which controls LVMH Moët Hennessy Louis Vuitton, to 94.2 percent from 74.3 percent as part of its plan announced in April to simplify LVMH’s ownership structure.
According to a note published Tuesday by France’s market watchdog the Autorité des Marchés Financiers, at the conclusion of the public offer period on June 30, 36.4 million shares in Christian Dior SE had been tendered to Semyrhamis, an Arnault family company.
This means that the family now controls 94.2 percent of Christian Dior SE’s capital and 96.5 percent of its voting rights, the AMF said.
“The offer is a great success,” said a source close to LVMH, adding that there are no plans to launch an additional tender offer and delist Christian Dior’s shares from the Euronext Paris stock exchange for at least a year.
An LVMH spokesman declined to comment.
In parallel, Dior had announced plans to sell Christian Dior Couture, owned 100 percent by Christian Dior SE, to LVMH at an enterprise value of 6.5 billion euros, or $7.4 billion, to bring Dior’s fashion, accessories and beauty activities under one roof. The spokesman confirmed that that deal was concluded on Monday.
“We are reuniting the two houses, which will allow for even greater synergies and a continued growth in the potential of this house,” said Bernard Arnault, chairman and chief executive officer of LVMH, at a press conference to announce its plans in April.
Christian Dior SE is listed on the Euronext Paris stock exchange, and owns 41 percent of LVMH’s capital and 57 percent of its voting rights.