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South Korea’s court rules in favour of Samsung patriarch

February 1, 2013

A court in Seoul has ruled in favour of Samsung’s second-generation chairman ensuring the current family ownership of the world’s biggest maker of smart phones will remain in place.

The court ruled in favour of Lee Kun-hee, Samsung's second-generation chairman in three cases brought against him by five of his relatives, allowing Lee to hold on to $3.7 billion (€2.7 billion) worth of company shares that the plaintiffs had tried to obtain.

It's not tax-dodging, it's protecting the family business: Arnault's citizenship plans

January 25, 2013

Bernard Arnault’s complicated fiscal dealings in Belgium are all designed to keep luxury goods giant LVMH well under the Arnault family's control and not to avoid France’s proposed 75% super-tax, according to the company.

The response from LVMH came as the patriarch of French industry again faced attack from the French public after further details of his financial plans and efforts to gain Belgian citizenship were revealed.

Family control of steel behemoth 'diluted' with share move

January 11, 2013

ArcelorMittal, controlled by the Mittal family, has raised $4 billion (€3 billion) through a recent stock offering to tackle its debt issues, prompting some to say the family is diluting its ownership of the world’s biggest steel-maker.

South Korean families reap stock market rewards

March 26, 2012

Investors in two of South Korea’s largest family-owned conglomerates are likely reaping big rewards, thanks to shares in Samsung and Hyundai reaching record values this weekend.

According to Yonhap News Agency, stock held by Lee Kun-hee and his family in Samsung Group rose to around 13 trillion won (€8.61 billion) on Sunday (25 March).

Citing data by Cheabol.com, the report said share value was up by 25.4% compared to last year, largely due to a “bullish stock market”.

Benetton family seeks complete control

February 1, 2012

The family behind Benetton Group is considering making an offer to buy the shares it doesn’t already own, in a bid to take the Italian fashion retailer private.

Through its holding company Edizione, the Benetton family said it is considering buying the 33% of the company's shares that are listed on the Milan Stock Exchange.

Edizione controls 67% of the family business, which is famous for its coloured knitwear and owns brands such as Sisley and Playlife.

Playboy founder finally regains control of company

January 11, 2011

Hugh Hefner, founder of iconic consumer brand Playboy, has finally succeeded in his bid to regain control of the company he founded nearly 60 years ago.

Playboy Enterprises Inc announced on 10 January that it has agreed to accept the offer from Icon Acquisition Holdings, a limited partnership controlled by Hefner, to take the company private for a total of $207 million.

Buying shares in private companies accelerates

November 25, 2010

Private and institutional investors are increasingly investing in private companies as a way of diversifying their portfolios at a time when public markets are delivering poor performance.

High profile deals include Russian internet entrepreneur Yuri Milner's $200 million investment for 2% of social networking phenomenon Facebook. Milner has also bought shares in internet companies Zynga and Groupon.

Shifting powers at Blackwell

September 10, 2010

Family-owned bookseller Blackwell plans to follow in the footsteps of department store John Lewis in transferring the ownership of the company to its staff.

Third-generation group chairman Toby Blackwell, grandson of founder Benjamin Blackwell, said he was setting up an employee partnership, giving away his shares and following the John Lewis Partnership model. "I have been studying this in detail and practice," he told Bookseller magazine on 8 September.

Magna founder relinquishes business control

July 26, 2010

Shareholders at Magna International, the family-controlled auto parts maker, approved a deal on Friday that sees the founding Stronach family give up its voting control at the company in exchange for a big payout.

Porsche denies price manipulation as it sells 5% of its VW shares

October 30, 2008

The Porsche and Piëch families might have ironed out their personal differences but events within their businesses have escalated since Sunday when they announced they had amassed a further 31.5% in Volkswagen, pushing their ownership to over 74%.

However, controversy has centred on the fact that the 31.5% is in the form of cash settled options, purchased to hedge against price risks.

On the back of this, VW shares experienced a huge surge earlier this week. At one stage the price exceeded €1,000 per share, briefly making it the world's most valuable company.