LVMH completes Tiffany & Co. acquisition

Thursday, 07. January 2021 14:52

French luxury conglomerate LVMH Moët Hennessy announced on Thursday it has completed the acquisition of the global luxury jeweler Tiffany & Co.

Bernard Arnault, Chairman and Chief Executive Officer of LVMH, stated: "I am pleased to welcome Tiffany and all their talented employees in our Group. Tiffany is an iconic brand and a quintessential emblem of the global jewelry sector. We are committed to supporting Tiffany, a brand that is synonymous with love and whose Blue Box is revered around the world, with the same dedication and passion that we have applied to each of our prestigious Maisons over the years."

Tiffany's shareholders earlier approved the deal worth $15.8 billion that will price the company at $131.50 per share, a cut compared to the original valuation that was set at $135 per share.

Related Links: LVMH Moët Hennessy Louis Vuitton SETiffany & Co
Breaking the News / TF