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The European Commission validates the acquisition of Tiffany by LVMH

The European Commission validates the acquisition of Tiffany by LVMH

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The European Commission has officially given the go-ahead for the acquisition of Tiffany by the LVMH group, the American jeweler said in a document sent Tuesday to the Securities and Exchange Commission (SEC).

 

However, this $16 billion (13.5 billion euros) deal, which has fascinated the world’s press, remains uncertain, and it is not certain that the transaction will ever be concluded. The two parties have sued each other and are preparing to go to trial next January.

 

Bernard Arnault’s group announced on September 9 that it could no longer “as is” acquire Tiffany, citing the management of the jeweler during the COVID-19 epidemic and a request from the French Foreign Ministry to postpone the wedding “in reaction to the threat of taxes on French products from the United States”.

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Featured photo: © Tiffany

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