LVMH: takes over Belmond

(CercleFinance.com) - LVMH announces a final agreement to acquire Belmond, which owns or operates 46 hotels, trains and river cruises, in a deal giving an equity value of 2.
6 billion dollars, with an enterprise value of 3.2 billion dollars.

Founded over 40 years ago with the acquisition of the Cipriani Hotel in Venice, Belmond is present in 24 countries. Over the 12 months to end-September 2018, it generated sales of 572 million dollars, with an adjusted EBITDA of 140 million dollars.

Thanks to this acquisition, which is expected to be completed in the first half of 2019 after approval from Belmond's shareholders and certain competition authorities, LVMH will significantly strengthen its presence in the luxury hotels.


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