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Morgan Motor Company accelerates car development by selling to Italian investor

March 14, 2019

The family behind Britain’s last domestically-owned carmaker says it sold its majority stake to an Italian family private equity firm to secure the future of its 110-year-old business.

The family behind Britain’s last domestically-owned carmaker says it sold its majority stake to an Italian family private equity firm to secure the future of its 110-year-old business.

Sports car manufacturer Morgan Motoring Company will be acquired by Italian investment group Investindustrial next month on undisclosed terms. The investment was made without financial debt and Morgan will have a positive net cash position upon closing of the transaction in April.

Bulgari family sells a third of its LVMH shares

February 8, 2012

The Bulgari family has sold almost 4.5 million shares in French luxury goods group LVMH less than a year after it became the conglomerate's second biggest family shareholder.

Brothers Paolo and Nicola Bulgari, the grandsons of Sotirio Bulgari, who founded the eponymous Italian jeweller, and their nephew Francesco Trapani together sold about a third of the family's LVMH stake, which it acquired after a share swap with the Paris-based group last year.

LVMH raises stake in Hermes

December 21, 2011

LVMH, the French luxury goods group controlled by the Arnault family, has further increased its stake in fellow family business Hermes and now controls 22.28% of the bag-maker’s shares and 16% of its voting rights.

According to a filing with France’s stock market regulator Autorite des Marches Financiers, the Paris-based luxury group raised its stake in Hermes to 23,518,942 shares on 15 December.

Hermes talks tough to LVMH

February 17, 2011

Family-controlled luxury goods company Hermes has said that it wants fellow family business LVMH to reduce its stake in Hermes to less than 10%, according to a report in Bloomberg.

LVMH currently holds a 20% stake in Hermes, which, according to executive chairman Bertrand Puech, is "not normal". He wants LVMH chief executive Bernard Arnault to reduce his stake by more than half to make available the other shares to the open market.

Amid profits comes battle at French luxury companies

February 4, 2011

Family-controlled Hermes will be relieved that it notched up a 25% growth in sales in 2010 as it will bolster its defence from the predatory arch rival LVMH.

In a statement, the Paris-based company said that full-year sales increased to €2.4 billion from €1.9 billion the previous year. The growth was attributed to strong business in all regions, with sales in America and Europe recording growth of 25% and 16% respectively.

Agricultural giant focuses on remaining private

January 19, 2011

Cargill, the world’s largest agricultural commodities trader, will sell its shares in fertiliser company Mosaic, in a move designed to ensure the company remains 100% privately owned.

Cargill, the world's largest agricultural commodities trader, will sell its shares in fertiliser company Mosaic, in a move designed to ensure the company remains 100% privately owned.

Founded nearly 150 years ago, the Minnesota-based company is still controlled by around 80 members of the Cargill and MacMillan families. The company said in a statement that the Mosaic transaction would help it accomplish the objective of "maintaining its status as a private company".