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LVMH is buying Belmond for $ 2.6 billion

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LVMH is buying Belmond for $ 2.6 billion
December 17
13:00 2018

LVMH will acquire the Belmond hotel operator. The purchase will cost $ 2.6 billion. The price proposed is $ 25 per share, which is 40% more than the market rate. The deal will be completed next year.

Some other leading companies were interested in the Belmond hotel chain too. Among them were hotel operators, investment companies and even state funds from the Middle East and Asia. At the moment, Belmond is one of the operators who owns hotels, though not completely. It works with more than 30 objects in different countries.

In addition to the hotels, Belmond organizes river cruises, trips on a private train from London to Venice; it also owns “21 Club” in New York.

LVMH owns the Bulgari chain and luxury objects Cheval Blanc.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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