French luxury giant LVMH relinquishes its share in Hermes after 4-year legal battle

French luxury giant LVMH relinquishes its share in Hermes after 4-year legal battle
(Image credit: Cristina Arias/Getty Images)

French luxury giant LVMH Moet Hennessy Louis Vuitton has announced that it will give up its $7.5 billion share in Hermes International. LVMH had acquired Hermes through equity swaps.

The announcement comes after a four-year legal battle between the two companies. The LVMH stake, which accounts for 23 percent of Hermes, will be distributed to LVMH shareholders by Dec. 20.

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Meghan DeMaria

Meghan DeMaria is a staff writer at TheWeek.com. She has previously worked for USA Today and Marie Claire.