French multinational luxury goods company – LVMH Moët Hennessy Louis Vuitton SE, also known as LVMH, has agreed to buy a London-based luxury hotel group Belmond.
LVMH agreed to pay $25 a share in cash for Belmond, a transaction that values the company’s equity at around $2.6 billion. Belmond’s enterprise value, including debt, is about $3.2 billion.
LVMH, which owns fashion brands like Fendi and Louis Vuitton and champagne maker Dom Pérignon, is expected to complete the transaction in the first half of 2019.
Belmond is a global collection of exceptional hotel and luxury travel adventures in some of the world’s most inspiring and enriching destinations. Established almost 40 years ago with the acquisition of Belmond Hotel Cipriani in Venice, the Company owns and operates 46 unique and distinctive hotel, rail and river cruise experiences in many of the world’s most celebrated destinations. From city landmarks to intimate resorts, the collection includes Belmond Grand Hotel Europe, St. Petersburg; Belmond Copacabana Palace, Rio de Janeiro; Belmond Maroma Resort & Spa, Riviera Maya; and Belmond El Encanto, Santa Barbara. Belmond also encompasses safaris, six luxury tourist trains including the Venice Simplon-Orient-Express, three river cruises and ‘21’, one of New York’s most storied restaurants.
Photo Credit: Belmond
