LVMH Takes Over Bulgari

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.]