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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The value of cross-border M&As rose to 441 billion dollars during the first half 2015

According to UN Conference on Trade and Development cross-border merger and acquisition (M&A) activity increased significantly in the first half of 2015. The value of cross-border M&A purchases rose to 441 billion dollars, a 136% increase over the same period of 2014. – Multinational enterprises from developed countries were the principal drivers of the global cross-border M&A trend. European companies, after a number of years of high divestment levels, registered a sharp rise in the value of acquisitions in 2015, the organisation said in its press release.

– Cross-border M&As carried out by multinational companies from North America continued to grow strongly (up more than 100%). Acquisitions by Canadian companies reached their highest half-year level. Tax inversions accounted for half of outbound deals by value from the United States, although they represented a small share (10%) of global cross-border M&A purchases.

According to UNCTAD the growth of cross-border M&A purchases is projected to slow in the second half of 2015, but the full year value will be well above that of 2014.


Goldman Sachs net revenues to 4 year high – continues growth outlook

The worlds leading M&A company Goldman Sachs announced today its first quarter results. According to the company, net revenues were 10,6 billion dollars, the highest quartely result in four years.

Investment Banking generated net revenues 1,91 billion, which is the highest quartely performance since 2007 and it shows 7 % increase. Institutional Client Services produced net revenues of 5,46 billion dollars, growth 23 % from a year ago and 73 % growth from the fourth quarter of 2014. Financial Advisory were 961 million dollars.

Total assets were 865 billion dollars at the end of March 2015. Earnings per common share were 6,05 dollars compared to 4,15 dollars year ago.

– We remain encouraged about the prospects for continued growth, the company said in the interim report. Goldman Sachs is having a conference call today, at 9.30 Eastern time.





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