Arnault Reorganizes Holding to Ensure Family Control of LVMH (1)

Bernard Arnault is reorganizing his holding company as the French billionaire seeks to ensure long-term family control over LVMH, the luxury empire he’s built.

Bernard Arnault

Source: Nathan Laine/Bloomberg

Europe’s wealthiest person is turning Agache, his family holding company, into a joint-stock partnership. The change will guarantee that Agache’s “control over the LVMH group will be maintained over the long term,” according to a statement Thursday.

The conversion will not affect the current shareholding of Agache, the statement added.

Control of Agache will be exercised by Agache Commandite SAS, whose share capital will be held equally between the five children of Bernard Arnault. ...