The EU has approved the merger operation between LVMH and Tiffany

News

The EU has approved the merger operation between LVMH and Tiffany

15.10.2020 News

Antimonopoly regulator of EU approved the agreement of 16.2 billion euro merger with French group for the production of luxury goods LVMH (Louis Vuitton Moet Hennessy) and transnational jewelry company Tiffany. This was reported by Reuters.

According to the information, the merger agreement was approved without additional conditions for the companies.

Earlier, Tiffany reported that the lawsuit had been filed in a Delaware state court against the French concern LVMH due to the delay in the last stage of the merger process, in which it stated that LVMH postponed the submission of the documentation to the antitrust authorities. The company attributed this to the French government’s desire to persuade the United States to impose additional duties on the number of French goods, including luxury items.

Other articles

  • LVMH`s revenue for the nine months fell by 21%
    News

    LVMH`s revenue for the nine months fell by 21%

    Revenue of French LVMH Moet Hennessy – Louis Vuitton for the first three quarters of this year fell by 21% year on year and amounted to 30.348 billion euros, according to the company’s report. The strongest decline in revenue in this period was recorded in the section “selective retail trade” and “watches and jewelry” – […]

  • Tiffany received the counterclaim from LVMH
    News

    Tiffany received the counterclaim from LVMH

    Holding LVMH Moet Hennessy-Louis Vuitton (LVMH) reported that on Monday, September 28, filed a counterclaim against Tiffany in a Delaware court over a failed merger agreement between the two companies. The French holding and the American jewelry house agreed to merge in November 2019. The parties signed the agreement under which LVMH had to pay […]

  • Tiffany sued LVMH over the delay in the merger deal
    News

    Tiffany sued LVMH over the delay in the merger deal

    The multinational jewelry company Tiffany has filed a lawsuit in the court of the state of Delaware (USA) against the French luxury goods manufacturer LVMH (Louis Vuitton Moet Hennessy) for delaying the latest merger process. This was announced on Wednesday by the press service of the jewelry company. According to press service, LVMH group intentionally […]

  • State of Amazon head Jeff Bezos has reached $ 200 billion
    News

    State of Amazon head Jeff Bezos has reached $ 200 billion

    The position of the richest man in the world, Amazon CEO Jeff Bezos reached $ 199.7 billion, which is a record for a businessman. This was reported on Wednesday by Forbes magazine. The publication noted that during the trading of Amazon shares on Tuesday, the state of Bezos even exceeded the mark of $ 200 […]

  • Diageo accused LVMH of not paying dividends of 181 million euros
    News

    Diageo accused LVMH of not paying dividends of 181 million euros

    The world’s largest producer of alcohol, the British Diageo has initiated arbitration proceedings with the French luxury goods manufacturer LVMH Moet Hennessy – Louis Vuitton SA due to non-payment of dividends in the amount of 181 million euros in 2019. Diageo owns 34% in the joint venture with LVMH for the production of alcoholic beverages […]

Read also

The EU has approved the merger operation between LVMH and Tiffany
News

Ukrhazvydobuvannia Tender won the company with hazy biography

It became aware the results of the tender of Ukrhazvydobuvannia by 13.3 billion UAH on the organization of drilling gas wells. The winner was a little-known company Pivnichhazresurs,the charter capital of which is only 74 thousand UAH, and the staff consists of two people. Also, it should be noted that on account of the above-mentioned […]

Next
The EU has approved the merger operation between LVMH and Tiffany
News

KSG Agro enters the Georgian market

KSG Agro has received permission to export pork to Georgia. The first shipment is scheduled for June. “Pig-breeding business of KSG Agro has successfully passed the test of the National Food Agency of the Ministry of Agriculture of Georgia and received permission for the supply of pork to the country”, – said in a statement […]

Next
The EU has approved the merger operation between LVMH and Tiffany
News

The WHO has questioned the effectiveness of the vaccine COVID-19

Director of the Regional Office of the World Health Organization Hans Kluge expressed doubts about the effectiveness of vaccines COVID-19. He believes that it will not put the end to the pandemic coronavirus. This was reported by the Daily Star. I keep hearing, “The vaccine will end the pandemic.” No! We don’t even know if […]

Next
The EU has approved the merger operation between LVMH and Tiffany
News

Ukraine had remained in the top-10 steel producers

In May Ukraine produced 2.3 million tons of the steel. This figure is to 5.7% higher than was in the same period in 2015. This is confirmed by the monthly data of the international organization World Steel Association. It is a non-profit organisation with its headquarters in Brussels, Belgium and a second office in Beijing, China, […]

Next
The EU has approved the merger operation between LVMH and Tiffany
News

The World Bank has assessed the consequences of the salary increase in Ukraine

The increase of the minimum wage in Ukraine from UAH 5,000 to UAH 6,500 in 2021 may increase the state budget deficit to more than 6% of gross domestic product. This is stated in the economic review of the World Bank. In addition, the increase in the minimum wage will increase the overall need to […]

Next
The EU has approved the merger operation between LVMH and Tiffany
News

Will russian gas line TogliattiAzot be built by passing Ukraine?

In the near future Ukraine may lose some revenue from the transit of Russian gas. Foreign  provider JSC Togliatti, which is among the top ten international flagship for the production of ammonia, is considering the possibility of building an additional pipeline from their company to the terminal in Taman port, by passing the Ukrainian part […]

Next
The EU has approved the merger operation between LVMH and Tiffany
News

McDonald’s will cook burgers in a new way

McDonald’s F 32 has officially announced changes in the process of cooking its burgers. The buns will become softer and darker, and the company will bake them according to three different recipes. McDonald’s promises they will not have flavor enhancers: only natural ingredients to improve texture, frying and taste. The size of the buns was […]

Next
The EU has approved the merger operation between LVMH and Tiffany
News

Tesla Shares fell due to a bad news from China

Shares of Tesla closed on Monday with a fall of 1.44%, continuing to decline on Tuesday, their price is now below $ 2000. This situation was preceded by a Bloomberg publication on reducing the number of registrations of Tesla, electric cars made in China. Tesla did not confirm the information; in its reports the company […]

Next
The EU has approved the merger operation between LVMH and Tiffany
News

Three banks have legal proceedings with the Creative

Two state banks have filed a lawsuit against the Creative  regarding the reimbursement of debts. In particular, Ukreximbank  wants to recover  57.71 million UAH and $ 7.84 million of arrears on the loan agreement dated November  17, 2008. Also Oschadbank wants to compensate another $ 25.24 million. In addition, Piraeus Bank ICB is trying to […]

Next
The EU has approved the merger operation between LVMH and Tiffany
News

Ukraine’s space industry has increased its net loss by 23 times since the beginning of the year

Enterprises and institutions of the space industry of Ukraine increased the net loss to 1.038 billion hryvnias from January to September 2020. This is 23 times more than in the first nine months of last year. In 2019, for the same period, the net loss amounted to 44.3 million hryvnias, according to the press service […]

Next
The EU has approved the merger operation between LVMH and Tiffany
News

If you believe in yourself, work and learn all the time – success in business is inevitable

Personal position, incredible belief in yourself and in what you do, the constant acquisition of new skills and flexibility, having learned which, in the future you will be able to beat usefully any idea. These are the most important principles by which develops business, said business manager Yuliia Zoteeva. During her training Yuliia substantiate her […]

Next
The EU has approved the merger operation between LVMH and Tiffany
News

Vinnytsia IT – Academy received 10 million UAH from the RIA Fund

Founder of media corporation RIA Media Corp. Oleksandr Chovhan singled out from his eponymous Foundation impressive sum of money in the development of IT sphere in Ukraine. The funds were invested in Vinnitsa IT – Academy in exchange for a share in the amount of 61% in the structure of the institution. According to Tetiana […]

Next
The EU has approved the merger operation between LVMH and Tiffany
News

Ukraine received $ 2.7 billion from the IMF

As part of a new distribution by the International Monetary Fund (IMF) of special drawing rights (SDR), Ukraine on Monday, August 23, received its share of SDR 1.9 billion, or $ 2.7 billion, said First Deputy Governor Kateryna Rozhkova Facebook page. “Today 1.9 billion SDRs came to Ukraine’s account at the IMF! A wonderful gift […]

Next
The EU has approved the merger operation between LVMH and Tiffany
News

The largest producer of tomato paste will build a plant for $ 50 million

The  Agrofusion agribusiness holding intends to invest $ 50 million in building a plant for processing tomatoes in the Mykolaiv region. This is stated in a message on the site of the Mykolayiv Regional State Administration. “The Agrofusion Company begins construction of a new plant for processing tomatoes in Snigirevskyi district, which will be the largest […]

Next
The EU has approved the merger operation between LVMH and Tiffany
News

Ukrsotsbank initiated a criminal case against agro-industrial holding “Creative”

“Ukrsotsbank” obtained the criminal case against the “Creative”, –  reported Finclab. In “Ukrsotsbank” commented that on January 14, 2016 by investigators of the National Police was opened a criminal case (№12016100000000014, Article 191 part 5) on the fact of abuse of office and embezzlement of “Ukrsotsbank” in large-scale by employees of agricultural holding “Creative”. According […]

Next
The EU has approved the merger operation between LVMH and Tiffany
News

TikTok confirmed the lawsuit against Trump

Chinese social network TikTok trying through the courts to appeal the decree of US President Donald Trump, which provides for a ban on its activities in the country, if it is not sold to an American company. This was reported by Interfax-Ukraine on Tuesday, August 25, with reference to the Chinese media. “It is not […]

Next