Semyrhamis (a company in the Family Group Arnault), filed on may 22, 2017 with the financial markets Authority the project of a public tender offer simplified for all of the shares in Christian Dior, not held by the Family Group Arnault, according to the terms described on 25 April 2017. This filing follows the signing of a contract for the loans syndicated with a view to achieving the offer.
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In the light of the conclusions of the independent expert confirming the fairness of the terms of the offer and following the favourable opinion of the ad hoc committee composed of independent directors, the Board of directors of Christian Dior, held on may 22, 2017, unanimously recommends that shareholders of Christian Dior to bring their shares to the offer.
In addition, the enterprise committee of Christian Dior Couture has issued a favourable opinion on the proposed sale of Christian Dior Couture [1] to LVMH. In addition, after review of the conclusions of independent expert opinions in the respective confirming the fairness of the transaction price and, following the favourable opinion of the ad hoc committees, the Boards of LVMH and Christian Dior have unanimously approved the signing of the definitive agreement for the acquisition of the branch of Christian Dior Couture by LVMH for an enterprise value of 6.5 billion euros.
All of these transactions mark an important step for the realization of this strategic project. It allows you, subject to the decision of compliance of the financial markets Authority, to confirm the schedule announced on April 25, 2017, providing for the opening of the offer in the course of the month of June 2017.
For memory, the main terms of the proposed public offering of Semyrhamis, presented on 25 April 2017, are the following :
– main branch joint : 172 0,192 action Hermes International by action Christian Dior ;
– branch subsidiary in cash : 260 per share Christian Dior ; and
– branch, subsidiary actions : 0,566 action Hermes International by action Christian Dior.
[1] Includes the company’s Grandville (100% owned by Christian Dior) and its subsidiary Christian Dior Couture.
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