The Dispute Over Luxury Group LVMH Vs Herm S Has Come To A Close.
according to
report
The French luxury group LVMH and Herm s issued a joint statement on Wednesday. After a long and long tug of war, the two sides finally reached a settlement on LVMH's dispute over Herm's s 23.2% share.
177 years
History
Herm, s, who has been the founder of the family, has been strongly opposed to the LVMH's massive collection of its stock since 2010. The two sides were once on the spot. In July last year, the French securities regulatory authority AMF ruled that the LVMH's holdings had not been properly disclosed and the 8 million euro fine should be paid, but the dispute between the two sides did not end.
According to the joint statement issued by both sides on Wednesday: LVMH should distribute all its Herm s shares to shareholders, while LVMH Dior's largest shareholder, Christian Dior, should distribute its Herm s shares to its own shareholders.
stock right
After distribution, LVMH's family holding group Groupe Arnault will hold 8.5% shares of Herm s s, but LVMH, Dior and Groupe Arnault jointly undertake not to increase Herm s shares in the next five years.
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