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According to a press release from LVMH, the company offered $ 25 per share to Belmont, which is 42% higher on Thursday close. It is expected that the transaction will be closed in the first half of 2019.
Earlier, Dow Jones newspaper, citing sources, reported that Belmond has been actively trying to buy other companies in recent weeks, including Middle Eastern and Asian state funds, large hotel operators and investment companies.
Belmond remains perhaps the last major hotel operator to which these hotels belong partially or entirely. The company manages 36 properties in total, including the Hotel Cipriani in Venice, Copacabana in Rio de Janeiro, and the Grand Hotel Europe in St. Petersburg.
In addition to hotels, Belmond offers river cruises in Europe and Asia, travel by Venice Simplon-Orient-Express train, running between Venice and London, and owns the legendary restaurant "21 Club" in New York.
LVMH owns the Bulgari hotel brand (six hotels currently, three more are planned to open in the next four years, including a hotel in Moscow), and Cheval Blanc, a chain of rental luxury properties.
source: dowjones.com
Earlier, Dow Jones newspaper, citing sources, reported that Belmond has been actively trying to buy other companies in recent weeks, including Middle Eastern and Asian state funds, large hotel operators and investment companies.
Belmond remains perhaps the last major hotel operator to which these hotels belong partially or entirely. The company manages 36 properties in total, including the Hotel Cipriani in Venice, Copacabana in Rio de Janeiro, and the Grand Hotel Europe in St. Petersburg.
In addition to hotels, Belmond offers river cruises in Europe and Asia, travel by Venice Simplon-Orient-Express train, running between Venice and London, and owns the legendary restaurant "21 Club" in New York.
LVMH owns the Bulgari hotel brand (six hotels currently, three more are planned to open in the next four years, including a hotel in Moscow), and Cheval Blanc, a chain of rental luxury properties.
source: dowjones.com
