ARNAULT’S HOLDING COMPANY TO HIKE LVMH STAKE TO 47

ARNAULT’S HOLDING COMPANY TO HIKE LVMH STAKE TO 47%

PARIS — Luxury goods tycoon Bernard Arnault, chairman of LVMH Moet Hennessy Louis Vuitton, is tightening the grip on the luxury group he controls.
His family’s holding company, La Compagnie Financiere du Nord, raised its stake in LVMH from 41.7 percent to 44.09 percent after several months of buying LVMH shares, confirmed a spokeswoman for the group. These transactions increased the holding company’s voting rights from 57.16 percent to 59.22 percent.
Moreover, once the approved share swap and absorption of retailer Le Bon Marche by LVMH is completed, the holding company will have a stake of 47 percent in LVMH, the spokeswoman said.