Pursuits
LVMH Books $3.5 Billion Gain on Hermes Stock Distribution
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LVMH Moet Hennessy Louis Vuitton SA, the largest luxury-goods company, booked a 2.81 billion-euro ($3.5 billion) capital gain after distributing its 23 percent stake in Hermes International SCA to investors.
The Hermes shares were valued at today’s opening price of