Under the plan announced Wednesday, the Arnault family’s holding company Agache will merge with Christian Dior, according to a Dior statement, Reuters reported.
The new entity will retain the name Agache and will directly control a 49.76% stake in LVMH, along with 65.55% of the company’s voting rights.
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Agache currently owns 96% of Christian Dior’s shares and 97.1% of its voting rights. It also holds a 6.77% stake in LVMH and 8.49% of its voting rights.
The merger is expected to take place in December and will include a tender offer for the 2.44% of Christian Dior shares that Agache does not currently own. The price will be determined based on the market price of LVMH shares, according to the statement.
The Arnault family does not plan to delist shares of the new Agache entity.
The family currently controls 50.33% of LVMH and 66.27% of its voting rights.
The restructuring is intended to simplify the family’s ownership structure while ma
