LVMH Takes Over Bulgari

lvmh-takes-control-of-bulgari.jpg

And another one bites the dust.

LVMH Mo├â┬½t 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.]

Mar 8, 2011 7:30am PDT

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