Financière Agache, a subsidiary of  Bernard Arnault’s Groupe Arnault, now holds approximately 27% of the share capital of LC&M.

French billionaire and LVMH Moët Hennessy Chairman and CEO Bernard Arnault has today (24 September) finalised a deal to acquire around one quarter of the share capital of Lagardère Capital & Management (LC&M).

The conclusion of the transaction, first reported in May, has also resulted in Groupe Arnault taking a direct interest in Lagardère SCA, parent of Lagardère Travel Retail, worth more than 5% of its share capital.

Arnaud Lagardere owns a 7.26% stake in Lagardère SCA and remains the Chairman of Lagardère Capital.

Groupe Arnault will now occupy one of four seats on the Board of Directors of French joint-stock corporation Arjil Commanditée – Arco.

Bernard Arnault said: “The conclusion of our investments in Lagardère Capital and Lagardère SCA strengthens our commitment alongside Arnaud Lagardère and underscores our attachment to the integrity and development of the Lagardère group based on its two priority areas, Lagardère Publishing and Lagardère Travel Retail.”

Arnaud Lagardère declared: “I am very happy and proud of this link-up. Groupe Arnault is a very high quality partner that is coming on board for the long term and supports our ambitious and responsible development strategy focused around our two core businesses.”