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Arnault Group files mixed offer for Christian Dior shares
24
May '17
Semyrhamis, a company of the Arnault Family Group, the major shareholder in LVMH, has filed the simplified mixed offer for all Christian Dior shares not currently held by the Arnault Family Group with the French financial market authority. This filing follows the execution of a syndicated facilities agreement for the purpose of proceeding with the offer.

Based on the independent expert’s conclusions which confirm that the offer is fair and further to the release of the favorable opinion of the ad hoc committee composed of independent directors, the board of directors of Christian Dior has unanimously recommended that Christian Dior shareholders tender their shares to the offer, said LVMH in a press release.

In addition, Christian Dior Couture’s works council has released a favourable opinion on the proposed disposal of Christian Dior Couture to LVMH. After having reviewed the respective independent experts’ conclusions, which confirm the fairness of the transaction’s price and further to the release of the respective ad hoc committees’ favorable opinion, the board of directors of LVMH and Christian Dior have unanimously approved the execution of the definitive acquisition agreement through which Christian Dior Couture will be acquired by LVMH at an enterprise value of €6.5 billion.

These operations represent an important step towards the implementation of this strategic project. It confirms the timetable announced on April 25, 2017, which planned for the offer to open in June 2017, subject to the condition of the clearance by the French financial market authority. (KD)

Fibre2Fashion News Desk – India


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