- At the same time, LVMH will buy Christian Dior Couture from Christian Dior for an enterprise value of 6.5 billion euros.
The deal "will allow LVMH to incorporate one of the most emblematic brands worldwide".
French luxury group LVMH has agreed to acquire fashion brand Christian Dior's final 26 %.
Sales have doubled over the past five years and, last year, revenues amounted to more than two billion euros, while underlying or operating profit totalled 270 million euros.
The magnate behind the LVMH luxury empire is seeking to strengthen control over Christian Dior in a multibillion-dollar deal combining the fashion industry heavyweights.
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The public offer values each Christian Dior share at 260 euros, and represents a premium of 14.7 percent over Christian Dior closing share price as of April 24, 2017, as well as an 18.6 percent premium over the 1 month average share price. "It will allow for the regrouping of Christian Dior Couture and Parfums Christian Dior brands", the statement continued.
Any confusion is forgivable since Bernard Arnault, the chairman and chief executive of LVMH, is also the chairman and majority shareholder of Dior.
Christian Dior Couture is now considered an independent affiliate of LVMH despite having the same controlling shareholder. In addition, the Arnault Family Group is making a public offer for the Christian Dior shares it doesn't now hold. The move sees LVMH, which now owns Perfumes Christian Dior, buying the Christian Dior brand and its haute couture, women's and men's ready-to-wear lines, footwear and leather goods.
Analysts also hailed the long-awaited deal.