PARIS, July 21 (Reuters) – The Arnault group plans to reorganize the Agache holding company into a partnership limited by shares, Agache SCA, in order to secure long-term control of LVMH by the Arnault family, the Autorité des financial markets (AMF).
In a financial opinion, the AMF indicates that the Arnault group, which controls the luxury giant LVMH, also plans to create a simplified joint-stock company with variable capital, Agache Commandit, whose capital will be held equally by the five children of Bernard Arnault.
“It is envisaged within the Arnault family group a reorganization intended to ensure the long-term sustainability of family control”, can we read in the opinion of the AMF.
The gendarme of the Paris Stock Exchange adds that Bernard Arnault, the CEO of LVMH, will be the managing partner of Agache SCA. (Written by Matthieu Protard)