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LVMH close to US$2.6b deal to buy Belmond, WSJ reports


TOKYO: LVMH is close to acquiring Belmond Ltd. in a deal that would value the operator of high-end hotels and the iconic â€21 Club’ power restaurant at about $2.6 billion, the Wall Street Journal reported.

The French luxury-goods company is near an agreement to pay $25 a share in cash for London-based Belmond, the Journal reported, citing people familiar with the matter. That would represent a 42 percent premium over Belmond’s closing price in the U.S. on Thursday.The Journal said a deal could come as early as Friday.
 

Corporate News , Retail

   

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