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LVMH Takes Over Bulgari

| Filed under: Business BlitzLVMHBulgariHermes

lvmh-takes-control-of-bulgari.jpg

And another one bites the dust.

LVMH Moët Hennessy Louis Vuitton may not be able to get their hands on Hermes, but that's not the case for Bulgari.

The luxury group announced on Monday they struck a deal with the Bulgari family, who gave up 51% of their controlling stake of the jewelry company for 16.5 million shares of LVMH.

Wow.

And as if that wasn't enough, Bulgari earned themselves two seats on the LVMH board.

Not a bad deal if you ask us.

[Image via AP Images.]

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