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PARIS, France — LVMH Moet Hennessy Louis Vuitton SA plans to distribute its stake in French luxury-goods company Hermès International SCA to its shareholders, ending a four-year battle over LVMH's stake-building in the Birkin bag maker.
The distribution of LVMH’s 23 percent holding in Hermès will be completed by Dec. 20, the Paris-based company said in a statement today. LVMH’s largest shareholder Christian Dior will in turn distribute the Hermès shares it receives to its own shareholders and LVMH, Dior and Groupe Arnault have agreed not to buy any shares in Hermès for the next five years.
After these moves, Groupe Arnault will hold about 8.5 percent of Hermes capital.
By Celeste Perri; editors: Paul Jarvis, Thomas Mulier.
