Hermes Accuses LVMH Of Fraud In Obtaining Minority Stake
Hermes says that LVMH was able to initially buy 17 percent of Hermes' capital through equity swaps, which it later increased to a 22.6 percent stake, according to Les Echos. The equity swaps were intended to be settled in cash, but LVMH instead settled them in Hermes shares, the newspaper reported.
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