LVMH to buy Belmond luxury hotel group for $3.2 billionStaff Writer | December 14, 2018
LVMH Moët Hennessy Louis Vuitton and Belmond jointly announced that they have entered into a definitive agreement for LVMH to acquire Belmond. LVMH is to acquire Belmond for $25.00 per Class A share in cash.
Acquisition Belmond recorded total revenues of $572 million
In the twelve months ended September 30, 2018, Belmond recorded total revenues of $572 million and adjusted EBITDA of $140 million.
The transaction is expected to complete in the first half of 2019 subject to the approval of Belmond's shareholders and clearance by the relevant competition authorities. ■