economy
The shareholders of the US jeweler Tiffany have approved the multi-billion dollar takeover by the French luxury goods group LVMH with a large majority. LVMH reported on Tuesday after an extraordinary shareholders meeting of Tiffany.
SN / APA (AFP) / ERIC PIERMONT
Bernard Arnault’s group plans to spend almost 15 billion euros
LVMH, the group of French billionaire Bernard Arnault, announced in November that it would buy the famous US jeweler for around 14.7 billion euros. The transaction is expected to close by mid-year.
LVMH boss Arnault said that the green light of the shareholders was an important step on the way to buying Tiffany. He spoke of an “iconic company”. The jeweler had become known, among other things, from the Hollywood film “Breakfast at Tiffany’s”.
LVMH Moët Hennessy Louis Vuitton is the world’s leading luxury goods company. The group includes, among others, champagne houses like Veuve Clicquot Ponsardin and Krug as well as fashion houses like Kenzo and Fendi. The jewelry company founded by Charles Lewis Tiffany in New York in 1837 has over 300 stores worldwide and employs around 14,000 people. The store on New York’s Fifth Avenue is particularly well known.
Source: Apa / dpa
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Accessed on 04.02.2020 at 10:43 on https://www.sn.at/wirtschaft/welt/tiffany-aktionaere-billigen-uebernahme-durch-luxuskonzern-lvmh-83000257
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