LVMH to redistribute Hermes shares

France
Published:  03 November, 2014

LVMH said on November 3, it would redistribute the Hermes shares it owns to LVMH shareholders on December 17 as part of a dispute-ending agreement between the two luxury groups that was agreed last September.

According to Reuters, LVMH, the world's biggest luxury group and owner of fashion brands Dior and Louis Vuitton, also said that it would pay an interim cash dividend of €1.25 per share on December 4.

In September, LVMH agreed to offload its stake in Hermes to end hostility between the two groups that started in 2010 when LVMH revealed it had started building a holding in Hermes, a move its smaller rival regarded as hostile.