LVMH REACHES AGREEMENT WITH TIFFANY & Co.
LVMH REACHES AGREEMENT WITH TIFFANY & Co.
TRANSACTION DESCRIPTION
AT A GLANCE
| LVMH reaches an agreement for the acquisition of Tiffany & Co. (NYSE: TIF)
| LVMH and the Board of Tiffany agreed on a price of $135 per share in cash to acquire all outstanding
shares of Tiffany & Co.
•
Equity value of $16.2 billion (i.e. c. €14.7 billion)
⚫ Total Enterprise value of c. $16.9 billion (16.6x 2018A EBITDA as of January 31, 2019)
| Transaction subject to the approval of Tiffany's shareholders and the clearance by the relevant regulatory
authorities
Closing of the transaction expected after anti-trust clearances
LVMH REACHES AGREEMENT WITH TIFFANY & Co.
TIFFANY KEY FIGURES
A GLOBAL JEWELLER
|2018 Sales US$4,442 million
| 2018 EBITDA = US$1,019m (22.9% margin)
|2018 EBIT = US$790m (17.8% margin)
|14,200 employees
| E-commerce representing 7% of total sales
321 company-operated stores in more than 20 countries
* For FY2018 ended January 31, 2019
2018 NET SALES BY CATEGORY
Designer Jewelry Other
12% 8%
LVMH
Engagement
Jewelry
26%
54%
Jewelry
Collections
2018 NET SALES BY REGION
Europe
11%
Other
Japan
15%
44%
Americas
28%
APAC
(excl. Japan)
LVMH
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