France's LVMH nears deal to buy Belmond - WSJ

A woman with a Louis Vuitton-branded shopping bag looks towards the entrance of a branch store by LVMH Moet Hennessy Louis Vuitton in Vienna, Austria October 4, 2018. REUTERS/Lisi Niesner - Copyright LISI NIESNER(Reuters)

By Reuters

Published on 14/12/2018 - 01:34•Updated 19/04/2024 - 04:25

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(Reuters) - France's LVMH Moet Hennessy Louis Vuitton SE <LVMH.PA> is near a deal to buy Belmond Ltd <BEL.N>, owner and operator of high-end hotels around the world, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

LVMH would pay $25 per share in cash in a transaction that would value Belmond's equity at about $2.6 billion, the Journal reported.