News Column

LVMH Agrees To Distribute All Its Hermes Shares To Shareholders

September 3, 2014

PARIS (dpa-AFX) - The President of the Tribunal de Commerce de Paris, Frank Gentin, proposed to LVMH and Hermes conciliation to end the dispute between them and restore a climate of positive relations between them.

Both parties supported the proposal. A deal had been signed, under which all Hermes shares owned by the LVMH Group will be distributed to shareholders, provided that Christian Dior will distribute to its own shareholders, action it has thus received.

LVMH, Dior and Groupe Arnault committed for a period of 5 years not to acquire new shares Hermes. Distributions of shares approved by the Boards of Directors of LVMH and Dior, will be conducted no later than 20 December 2014. Following the transactions, Groupe Arnault hold about 8.5% of the capital of HermÈs International.

The various disputes that had opposed LVMH and Hermes were terminated by the effect of the agreement date.

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Source: dpa-AFX International Compact

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