Filing of the public offer on Christian Dior: Disposal of Christian Dior Couture
May 23, 2017 at 01:39 am EDT
Share
>PDF version
THIS DOCUMENT MAY NOT BE RELEASED, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA
Semyrhamis (a company of the Arnault Family Group) filed, on May 22nd, 2017, with the French financial market authority (Autorité des marchés financiers) the simplified mixed offer for all Christian Dior shares not currently held by the Arnault Family Group according to the terms described on April 25th, 2017. This filing follows the execution of a syndicated facilities agreement for the purpose of proceeding with the offer.
Based on the independent expert's conclusions which confirm that the offer is fair and further to the release of the favorable opinion of the ad hoc committee composed of independent directors, the Board of directors of Christian Dior, held on May 22nd, 2017, has unanimously recommended that Christian Dior shareholders tender their shares to the offer.
In addition, Christian Dior Couture's works council (Comité d'entreprise) has released a favorable opinion on the proposed disposal of Christian Dior Couture [1] to LVMH. Therefore and after having reviewed the respective independent experts' conclusions which confirm the fairness of the transaction's price and further to the release of the respective ad hoc committees' favorable opinion, the Board of directors of LVMH and Christian Dior have unanimously approved the execution of the definitive acquisition agreement through which Christian Dior Couture will be acquired by LVMH at an enterprise value of €6.5bn.
These operations represent an important step towards the implementation of this strategic project. It allows, subject to the condition of the clearance by the French financial market authority (Autorité des marchés financiers), to confirm the timetable announced on April 25th, 2017, which planned for the offer to open in June 2017.
As a reminder, the main terms of the public offer by Semyrhamis, presented on April, 25th 2017, are the following:
- Primary mixed offer: €172 and 0.192 Hermès International share for each Christian Dior share;
- Secondary cash offer: €260 for each Christian Dior share; and
- Secondary exchange offer: 0.566 Hermès International share for each Christian Dior share.
Includes Grandville (100% owned by Christian Dior) and its subsidiary Christian Dior Couture.
LVMH - Moët Hennessy Louis Vuitton SA published this content on 23 May 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 May 2017 05:38:21 UTC.
Original documenthttps://www.lvmh.com/news-documents/press-releases/filing-of-the-public-offer-on-christian-dior-disposal-of-christian-dior-couture/
Public permalinkhttp://www.publicnow.com/view/F9DDAE102C460664CC5E4727C75983AEC3BD8215
LVMH Moët Hennessy Louis Vuitton SE is the world leader in luxury products. Net sales break down by family of products as follows:
- fashion and leather items (48.9%): brands such as Louis Vuitton, Kenzo, Celine, Fendi, Marc Jacobs, Givenchy, etc.;
- watches and jewels (12.8%): Bulgari, TAG Heuer, Zenith, Hublot, Chaumet, Fred brands, Tiffany, etc.;
- perfumes and cosmetics products (9.6%): perfumes (Christian Dior, Guerlain, Loewe, Kenzo brands, etc.), makeup products (Make Up For Ever, Guerlain, Acqua di Parma, etc.), etc.;
- wines and spirits (7.7%): champagnes (Moët & Chandon, Mercier, Veuve Clicquot Ponsardin, Dom Pérignon brands, etc.; No. 1 worldwide), wines (Cape Mentelle, Château D'Yquem, etc.), cognacs (mainly Hennessy; No. 1 worldwide), whisky (mainly Glenmorangie), etc.;
The remaining sales (21%) are from selective distribution through the Sephora, DFS, Miami Cruiseline chains and Le Bon Marché and La Samaritaine department stores.
At the end of 2023, products are marketed via a network of 6,097 outlets located throughout the world.
Net sales are distributed geographically as follows: France (7.9%), Europe (16.4%), Japan (7.3%), Asia (30.8%), the United States (25.3%) and other (12.3%).