LVMH in talks to buy Dutch luxury yacht maker
PARIS, Sept 1 |
PARIS, Sept 1 (Reuters) - French luxury group LVMH (LVMH.PA) said on Monday it was in exclusive talks to buy Dutch yacht maker Royal van Lent.
The talks with owner Egeria, a Dutch investment firm, are based on an acquisition price worth approximately 11 times net profit.
The shipyard markets luxury yachts which sell for an average 30 million euros ($44 million) each.
The estimated price equates to a transaction value of less than 500 million euros, a source familiar with the talks said. (Reporting by Nathalie Meistermann; Editing by Quentin Bryar)
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