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Ardbeg owner LVMH to become European company
Louis Vuitton Moet Hennessy, the owner of Glenmorangie Scotch and Hennessy Cognac, has changed its legal status from a French Public Limited Company, to a European Company.
Ardbeg owner LVMH intends to change its status from a French company, to a European one
The change has been made by the group to “better reflect the European and international scope of the LVMH Group”.
Over the years, LVMH has acquired a number of Europe-based brands that do not have roots in France, including Loewe, Fendi, Pucci, Acqua de Parma, Tag Heuer and Zenith.
The group’s Scotch brands Glenmorangie and Ardbeg are based in Scotland.
“The transformation into a European Company has no impact on governance, head office domicile or stockmarket listing and has no consequences for shareholders,” LVMH said in a statement.
The proposed change will be presented to shareholders at the AGM on 10 April 2014.
LVMH recently reported a “remarkable performance” from its wine and spirit division in its 2013 end of year financial results, as it broke through the €6bn annual sales barrier for the first time.