Hermes family could raise stake in group
today Jul 9, 2012
French luxury group Hermes International SCA could strengthen its defence against a hostile takeover, as the family holding company, which already owns 52 percent of the company, could increase its stake, a member of the Hermes family was quoted saying.
"About 12 percent (of the family-owned shares) remain that are not in the holding, but for (the purchase of whose shares) ... the other family members have a right of first refusal," Guillaume de Seynes, member of the Hermes family and also part of the luxury group's executive committee, told Sueddeutsche Zeitung in an interview published on Monday.
"It is therefore foreseeable that the holding will further raise its stake."
Hermes's success has attracted the attention of larger luxury goods company LVMH, which has taken a 22 percent in the company against the wishes of Hermes's management.
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