LVMH Is Acquiring Luxury Hotel Group Belmond for $3.2 Billion. Here's Why / fortune.com
LVMH Moët Hennessy Louis Vuitton, the world leader in luxury goods, is acquiring London-based luxury hotel brand Belmond Group for $25 cash per share, a few bucks above its most recent stock closing price. That values Belmond's equity at $2.6 billion, and the enterprise including debt at $3.2 billion.
LVMH (LVMHF) is the parent company of fashion houses including Christian Dior, Marc Jacobs, and Givenchy, as well as premium spirits, cosmetics, and fragrances. So far its hospitality business includes the Bulgari hotel brand and Cheval Blanc, a collection of luxury properties, and the purchase of Belmond will expand this business.