Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

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Groupe Arnault, <a href="https://www.smartkarma.com/entities/21415" target="_blank" data-smartkarma-citation="entities:21415:1">Christian Dior SE (CDI FP)</a> and <a href="https://www.smartkarma.com/entities/21072" target="_blank" data-smartkarma-citation="entities:21072:1">LVMH Moet Hennessy Louis Vuitton (MC FP)</a> have announced a two-fold strategic project with the objective being the simplification of the structure of the group.<ol><li>Public offer by Groupe Arnault for CDI in the form of a mixed offer consisting of EUR 172 in cash and 0.192 <a href="https://www.smartkarma.com/entities/21535" target="_blank" data-smartkarma-citation="entities:21535:1">Hermes International (RMS FP)</a> shares for each CDI share.</li><li>Acquisition of Christian Dior Couture from CDI by LVMH for an enterprise value of EUR 6.5 Bn.</li></ol>Based on Hermes International closing share price on 24 April, the public offer values CDI at EUR 260, representing a 14.7% premium to pre-announcement price and a 18.6% premium to 1m VWAP.In this insight, we take a look at the details of the transaction and the steps involved in simplifying Groupe Arnault's holdings.

Groupe Arnault, Christian Dior SE (CDI FP) and LVMH Moet Hennessy Louis Vuitton (MC FP) have announced a two-fold strategic project with the objective being the simplification of the structure of the group.Public offer by Groupe Arnault for CDI in the form of a mixed offer consisting of EUR 172 in cash and 0.192 Hermes International (RMS FP) shares for each CDI share.Acquisition of Christian Dior Couture from CDI by LVMH for an enterprise value of EUR 6.5 Bn.Based on Hermes International closing share price on 24 April, the public offer values CDI at EUR 260, representing a 14.7% premium to pre-announcement price and a 18.6% premium to 1m VWAP.In this insight, we take a look at the details of the transaction and the steps involved in simplifying Groupe Arnault's holdings.

Christian Dior - Privatization by Groupe Arnault; Simplifying Structures