Is Moet Hennessy Up for Sale?
By: Ainsley Brown
NON!! says its owners .The French luxury goods, LVMH has denied that it is in talks to sell its 66% stake in Moet Hennessay to Diageo.
According to the Times LVMH, has denied that it is in talks with Diageo, the world´s largest drinks company, to sell its 66% stake in Moet Hennessy. It was reported that Diageo, the makers of Smirnoff and Guinness – truly the nectar of the gods – was in the early stages of considering putting in bid for Moet Hennessy and had not yet approach LVMH.
A bid by Diageo, which already owns 34% of Moet Hennessy, could be worth a possible €12 billion to LVMH, the owners of such brands as Louis Vuitton, Christian Dior, Givenchy and Marc Jacobs. The acquisition for Diageo would fit its business strategy to get its hand on more premium brands. Well with brands such as Moet & Chandon and Veuve Clicquot champagnes and Hennessy cognac, this is surely the creme de la crème.
