LVMH to redistribute Hermes shares Dec 17
PARIS (Reuters) - LVMH said on Monday it would redistribute the Hermes shares it owns to LVMH shareholders on Dec. 17 as part of a dispute-ending agreement between the two luxury groups in September.
LVMH, the world's biggest luxury group and owner of fashion brands Dior and Louis Vuitton, also said that it would pay an interim cash dividend of 1.25 euros (1 pound) per share on Dec. 4.
In September, LVMH agreed to offload its stake in Hermes to end hostility between the two groups that started in 2010 when LVMH revealed it had started building a holding in Hermes, a move its smaller rival regarded as hostile.
(Reporting by Dominique Vidalon)
