LVMH to buy Belmond luxury hotel group

The world largest luxury Group LVMH (LVMH) announced on Friday that it has reached an agreement to buy the Belmond Luxury Hotel Group (BEL), listed in the New York Stock Exchange. The offer is 25 dollars per class A share. The equity value is 2,6 billion dollars and enteprise value 3,2 billion dollars.

According to the French luxury group LVMH the acquisition complements the other grups´s activities, like the Bvlgari and Cheval Blanc operations. Belmond Group is a luxury hotel and travel operator with 33 hotels wordwide and has several cruises and trains, mainly in Europe.

The company started its business about 40 years ago in Venice, when the Hotel Cipriani was opened. The group´s  12 months revenue was 572 million dollars and ebitda 140 million dollars at the end of September. One of the famous restaurants, Club 21 in New York, is also part of the chain.

The transaction is being finalised after the approval of the Belmond shareholders during the first quarter of 2019 and after the anti-trust clearance in mid-2019.

LVMH´s shares closed down by 1,43 % to 252,20 euros in Paris Euronext and the Belmond´s shares jumped by 39,83 % to 24,68 dollars in New York on Friday.

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Bulgari luxury watch to celebrate 100 anniversary

 

Diva Finissima Minute Repeater from luxury watchmaker Bulgari is for the ones and only. This fine artistic jewellery watch is having limited edition of ten pieces globally, with the price of 187.000 dollars. It has been designed to celebrate the company´s 100 years anniversary.

The watch is a combination of Italian jewellery design and Swiss high-quality watchmaking. This is also the world´s thinnest minute repeater movement for ladies.  The Japanese style of design (Urushi lacquer) in the dial shows fine gold dust as the reminder of beautifull craftmanship.

This watch is having 42-hour power reserve and water-resistant to 30 meters. The strap is black alligator leather by an 18kt rose gold folding clasp with diamonds.

 

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