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Tuesday, March 8, 2011

Louis Vuitton Bulgari control now

Tuesday, March 8, 2011
Statements made by companies confirmed on Monday as a mutual agreement, the Italian family-owned company that produces jewelry, luxury watches and control, global luxury brand, among them 50 French companies to pass the means. LVMH, Louis Vuitton, Moet et Chandon and incorporates brands such as TAG Heuer. Bulgari's market value of approximately 3.22 billion dollars. The company's founders Paolo Bulgari, Nicola Bulgari CEO Francesco Trapani, and again with the family, holds 51 percent of Bulgari's shares.
Under the agreement, LVMH, Bulgari family, is currently in the hands of 152.5 million shares, 16.5 million new shares will be issued. 12.25 euros per share paid by the French company announced.
The two companies said the agreement between the total value is close to $ 6 billion.
Milan close to 1 per cent of shares in stock exchange transactions Bulgari's evaluated.
Italians FRENCH CHAIR Sources close to the subject, the administration of the Bulgari family names, important positions in the receivables LVHM'de said. For example, Paolo and Nicola Bulgari, will remain in office as president and vice president. Bulgari family, LVMH'nin the board of directors shall have the authority to appoint representatives to Trapani, CEO of Bulgari, the French company will join the management committee.
The agreement between LVHM and Bulgari, luxury products market, the effects of the global economic crisis began to take over, out of a deep recession, the process came at a time. Bulgari, announced in January, boosted revenue by 21 percent, sales in Japan on an annual basis in this company 1 billion euros (1.6 billion dollars) was effective on the increase.
Bulgari, LVMH'nin clock and jewelry business to expand. French company a 29 percent increase in revenues last year, this unit has lived and had taken LVHM'nin signature of the fastest revenue growth. Nevertheless, in terms of revenue with $ 985 million, the smallest unit of the French company.

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