PARIS (dpa-AFX) - LVMH Moet Hennessy Louis Vuitton (LVMHF.PK, LVMUY.PK) said that it agreed to buy Belmond Ltd. (BEL), owners, part-owners or managers of 46 luxury hotel, restaurant, train and river cruise properties, for $25.00 per Class A share in cash. It represents an equity value of $2.6 billion in a transaction with an enterprise value of $3.2 billion.
In the twelve months ended September 30, 2018, Belmond recorded total revenues of $572 million and adjusted EBITDA of $140 million. The transaction is expected to complete in the first half of 2019 subject to the approval of Belmond's shareholders and clearance by the relevant competition authorities.
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. The company operates in 24 countries with its unique and distinctive portfolio of 46 hotel, rail and river cruise experiences.
Copyright RTT News/dpa-AFX