Key Developments: LVMH Moet Hennessy Louis Vuitton SE (LVMH.PA)

LVMH.PA on Paris Stock Exchange

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Latest Key Developments (Source: Significant Developments)

LVMH Moet Hennessy Louis Vuitton SA Acquires Pasticceria Cova-Les Echos
Sunday, 30 Jun 2013 08:00pm EDT 

Les Echos reported that LVMH Moet Hennessy Louis Vuitton SA has acquired an 80% stake in the business which controls the historic Pasticceria Cova cafe in Milan. Aside from the cafe/restaurant the company owns 20 sales outlets internationally.  Full Article

LVMH Moet Hennessy Louis Vuitton SA Fined EUR 8 Million Over Hermes International SCA Stake Building-Reuters
Sunday, 30 Jun 2013 08:00pm EDT 

Reuters reported that France's markets watchdog AMF fined luxury-goods group LVMH Moet Hennessy Louis Vuitton SA EUR 8 million (USD 10.40 million) for failing to properly disclose its stake-building in rival Hermes before 2010. LVMH immediately said it planned to appeal the fine.  Full Article

Hermes International SCA To Sue LVMH Moet Hennessy Louis Vuitton SA Over Equity Swaps To Build Stake-Reuters
Wednesday, 19 Jun 2013 03:06am EDT 

Reuters reported that Hermes International SCA will sue LVMH Moet Hennessy Louis Vuitton SA seeking the annulment of equity swaps that LVMH used to secretly amass a stake in Hermes, the Company said, confirming a newspaper report. According to French daily Les Echos, Hermes argues that LVMH had the intention to acquire Hermes shares as soon as it bought equity swaps in 2008. Those swaps were supposed to be settled in cash, but ended up being settled in Hermes shares. A Hermes spokeswoman confirmed the newspaper report but gave no further details.  Full Article

AMF Meets to Examine LVMH Moet Hennessy Louis Vuitton SA's Acquisition of Shares in Hermes International SCA-L'Agefi Quotidien
Thursday, 30 May 2013 08:00pm EDT 

L'Agefi Quotidien reported that France's financial regulator the Autorite des marches financiers (AMF) is meeting on May 31, 2013 to examine whether LVMH Moet Hennessy Louis Vuitton SA's acquisition of a stake in Hermes International SCA was in violation of financial regulations. In 2010 LVMH Moet Hennessy Louis Vuitton SA revealed that it had a 17% stake in Hermes International SCA, which it then increased to 22.3%. Most of this stake was built from derivatives from equity-linked swaps. The AMF's report on the acquisition says that LVMH Moet Hennessy Louis Vuitton SA did not make clear in its accounts what the shares underlying the derivatives were and did not inform the market soon enough about its stake in Hermes International SCA.  Full Article

LVMH Moet Hennessy Louis Vuitton SA Announces FY 2012 Dividend Payment
Thursday, 18 Apr 2013 12:09pm EDT 

LVMH Moet Hennessy Louis Vuitton SA announced that at the Annual Shareholders' Meeting held on April 18, 2013, approval was given for the payment of a dividend for financial year 2012 of EUR 2.90 per share. Taking into account the EUR 1.10 paid on December 4, 2012, the balance of EUR 1.80 will be paid on April 25, 2013. The last trading day with dividend rights is April 19, 2013.  Full Article

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Tag Heuer, Intel challenge Apple with Android smartwatch

BASEL, Switzerland - Tag Heuer, French luxury group LVMH's biggest watch maker, said it will launch a smartwatch later this year using Google Inc's Android operating system in a venture with Intel Corp to compete head-on with the Apple Watch.

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