LVMH Moët Hennessy Louis Vuitton (LVMH.PA), the world's leading luxury group and Belmond Ltd. (NYSE: BEL), owners, part-owners or managers of 46 luxury hotel, restaurant, train and river cruise properties, recently jointly announced that they entered into a definitive agreement for LVMH to acquire Belmond, with an equity value of USD 2.6 billion in a transaction with an enterprise value of USD 3.2 billion.
Through this acquisition, LVMH will significantly increase its presence in the ultimate luxury hotel world. Established over 40 years ago with the acquisition of Hotel Cipriani in Venice, Belmond owns and operates a global collection of exceptional hotel and luxury travel adventures in some of the world's most inspiring and enriching destinations.
Our firm, acting for LVMH.PA, provided services related to tax due diligence of the Cypriot companies of the Belmond group and general Cyprus tax advice. Partner George Ioannou handled the case.