Louis Weedon Holdings Of Hermes Shares To 22.28%
The French financial market authority issued a press communique 20 days ago. The French luxury goods manufacturer Louis Weedon Group continued to increase its holdings of another luxury group Hermes, from 21.4% to 22.28%.
The communique said that the French Financial Market Authority received Louis Weedon's announcement 19 days ago.
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The group said in its statement that it had purchased about 0.88% of Hermes's shares through its controlled enterprise on the 15 th of this month, thereby increasing its holdings of Hermes shares to 22.28% and gaining 16% of the voting rights accordingly.
Louis Weedon said that the group's focus on "long-term strategic investment" is still planned according to the actual situation.
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It changes its holdings of Hermes, but does not seek to control the brand, nor will it initiate a public offer.
Last October 23rd, Louis Weedon was unexpectedly.
Announce
It has purchased 17.1% Hermes shares and has increased its holdings of Hermes to 21.4%, becoming the largest single shareholder outside the Hermes family heirs.
Patrick Thomas, chief executive of Hermes and chairman of the board of supervisors Bertrand Pies said he did not want Louis Weedon to join the group.
The Hermes family inherited 73.4% of the group's holdings, but the single heir held no more than 5%.
On the 14 th of this month, the Hermes family successor announced the establishment of a holding company, bringing together about 50.2% of their shares and freezing it for 20 years, while giving priority to 12.3% of the other shares.
The move is aimed at countering possible further acquisitions by Louis Weedon.
Louis Weedon is the world's largest luxury group, with more than 50 internationally renowned luxury brands, including Louis Weedon, Dior, Fendi, Hennessy, Givenchy, Guerlain and so on.
Hermes is a luxury goods manufacturer famous for its leather goods and scarves.
The 20% of Hermes shares began to go public in 1993, and the remaining shares were held by family heirs and a handful of top executives.
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