LVMH said that it does not want to take control or seek board representation at Hermes after announcing it owns 14.2 percent of Hermes, with the option to increase the stake to 17.1 percent (for 1.45 billion euros). LVMH didn’t say who sold the holding in Hermes, whose stock is mainly held by members of the founding family. About 73 percent of Hermes is still held by the family.
25 October 2010
News: LVMH/ Hermes
LVMH said that it does not want to take control or seek board representation at Hermes after announcing it owns 14.2 percent of Hermes, with the option to increase the stake to 17.1 percent (for 1.45 billion euros). LVMH didn’t say who sold the holding in Hermes, whose stock is mainly held by members of the founding family. About 73 percent of Hermes is still held by the family.
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