LVMH absorbed Bvlgari

next house fell to the LVMH Moët Hennessy Louis Vuitton: the largest luxury conglomerate absorbed Bvlgari. Today, the French company announced that an old Italian house goes under its control. Bvlgari owners agreed to give up 51-percent stake in the family business in exchange for a 16, 5 million. Shares of LVMH. Thus, they become the second largest shareholder in the French conglomerate. The total transaction is valued at 3, 7 billion euros. "We believe that the group Bernard Arnault has all the qualities to ensure a long future Bvlgari», - said in a joint statement, Paolo and Nicola Bulgari, chairman and vice-chairman of the jewelry house. LVMH Group is not enough just to have control pact. Following the announcement of the transaction, the conglomerate said it is ready to buy out the remaining stake at a price of 12, 25 euros per share, which is 61% above the market value. Under the control of LVMH collected more than 60 famous brands, among which are the pillars of the market of luxury goods such as Louis Vuitton, Moёt & Chandon, TAG Heuer, Christian Dior, Fendi and Céline. The head of the group, Bernard Arnault a luxury aggressively expanding its empire. At the end of last year, he cut off a piece of Hermès, which triggered a loud corporate conflicts.