OREANDA-NEWS. French luxury goods group LVMH - Louis Vuitton Moet Hennessy has confirmed information about the acquisition of Tiffany, the largest multinational jewelry company for $ 16.2 billion. This was reported to LVMH in a communique distributed on Monday morning.

"LVMH and Tiffany & Co. today announced that they have reached a final agreement to acquire Tiffany at a price of $ 135 per share. The transaction value is about € 14.7 billion or $ 16.2 billion", the statement reads. The French group of companies notes that this acquisition will allow it to strengthen its position in the US market, as well as "give a new dimension" to its watch and jewelry business.

The media learned about the negotiations between LVMH and Tiffany in late October. Tiffany later confirmed that it had received a purchase offer from LVMH. At the same time, the jewelry company emphasized that it is not binding. The deal with Tiffany could become the largest for LVMH after the purchase of Christian Dior in 2017. Prior to this, the owner of Louis Vuitton also acquired the brand of jewelry Bulgari for $ 5.2 billion.