LVMH gains control of Christian Dior

|By:, SA News Editor

LVMH (OTCPK:LVMHF) is taking control of Christian Dior in a series of buyouts of shareholders totalling ~$13.1B.

BNP Paribas analyst Luca Solca says the deal adds a strong brand to the LMVH portfolio at a "reasonable" valuation.

LVMH statement: "The corresponding transactions will allow the simplification of the structures, long requested by the market, and the strengthening of LVMH’s Fashion & Leather Goods division thanks to the acquisition of Christian Dior Couture, one of the most iconic brands worldwide."

Shares of Christian Dior closed up 11% in Paris, while LVMH gained 4%.