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March 25, 2011

Family-controlled pharmaceutical giant Roche said on 25 March that a member of the family shareholding group has dropped out of the pool, causing the family to lose its voting majority.

Family-controlled pharmaceutical giant Roche said on 25 March that a member of the family shareholding group has dropped out of the pool, causing the family to lose its voting majority.

The Basel, Switzerland-based company said in a statement that family member Maja Oeri, who has 5% voting rights, dropped out of the group – called the voting pool – reducing the family pool’s voting power to 45% from 50%.

March 14, 2011

Nicolas Puech, the brother of Hermes’ executive chairman Bertrand Puech, told a French newspaper that he is not opposed to “a partnership” with rival LVMH, as long as Hermes can remain independent.

Nicolas Puech, the brother of Hermes’ executive chairman Bertrand Puech, told a French newspaper that he is not opposed to “a partnership” with rival LVMH, as long as Hermes can remain independent.

March 7, 2011

Family-controlled luxury goods company LVMH announced on 7 March that it will take a controlling stake in fellow family business Bulgari, in a share swap deal which will see the Bulgari family own 3% of LVMH.

Family-controlled luxury goods company LVMH announced on 7 March that it will take a controlling stake in fellow family business Bulgari, in a share swap deal which will see the Bulgari family own 3% of LVMH.

In a statement, Paris-based LVMH said that it will take control of 51% of shares held by the Bulgari family, and in return the Bulgari family will get a 3% stake in LVMH, to make it the second-largest family shareholder in LVMH.

February 17, 2011

Family-controlled luxury goods company Hermes has said that it wants fellow family business LVMH to reduce its stake in Hermes to less than 10%, according to a report in Bloomberg.

Family-controlled luxury goods company Hermes has said that it wants fellow family business LVMH to reduce its stake in Hermes to less than 10%, according to a report in Bloomberg.

LVMH currently holds a 20% stake in Hermes, which, according to executive chairman Bertrand Puech, is "not normal". He wants LVMH chief executive Bernard Arnault to reduce his stake by more than half to make available the other shares to the open market.

February 4, 2011

Family-controlled Hermes will be relieved that it notched up a 25% growth in sales in 2010 as it will bolster its defence from the predatory arch rival LVMH.

Family-controlled Hermes will be relieved that it notched up a 25% growth in sales in 2010 as it will bolster its defence from the predatory arch rival LVMH.  

In a statement, the Paris-based company said that full-year sales increased to €2.4 billion from €1.9 billion the previous year. The growth was attributed to strong business in all regions, with sales in America and Europe recording growth of 25% and 16% respectively.

January 18, 2011

Family-controlled investment company Wendel said that it would appeal a €1.5 million fine imposed by the French market regulator AMF, as it attempts to bolster its reputation.

Family-controlled investment company Wendel said that it would appeal a €1.5 million fine imposed by the French market regulator AMF, as it attempts to bolster its reputation.

In a statement on 17 January, the Paris-based company said: "Wendel will appeal this ruling at the Paris Court of Appeal, which will hear in fact and law the evidence and key arguments presented by the group in order to demonstrate that Wendel has complied with the law and the regulations in force at the time."

January 7, 2011

The founding family of Hermes International, the luxury scarves and handbag maker, was granted the right on 6 January to create a holding company to pool family shares without having to bid for the rest of the company.

The founding family of Hermes International, the luxury scarves and handbag maker, was granted the right on 6 January to create a holding company to pool family shares without having to bid for the rest of the company.

The decision, which was taken by the French stock market regulator the Autorite des Marches Financiers, gives the family better protection against the unwanted advances of fellow family-owned luxury group Moet Hennessy Louis Vuitton.

January 5, 2011

French regulators will debate on 6 January whether the plan proposed by Hermes family shareholders that would prevent a hostile takeover of the company can be allowed under antitrust laws.

French regulators will debate on 6 January whether the plan proposed by Hermes family shareholders that would prevent a hostile takeover of the company can be allowed under antitrust laws.

The family, who controls 73% of the Paris-based company, met in December to set up a holding company, which will control more than 50% of Hermes and have the first right to purchase any of the remaining family-owned shares as and when they are sold.

December 8, 2010

Two of France’s largest and most famed family businesses, Hermes and L’Oreal, have taken steps this week to bolster family control and reaffirm the family’s commitment to the company. But the question remains as to whether this is enough to ensure continued family ownership.

Two of France's largest and most famed family businesses, Hermes and L'Oreal, have taken steps this week to bolster family control and reaffirm the family's commitment to the company. But the question remains as to whether this is enough to ensure continued family ownership, writes Katie Barker. 

Hermes moved first with its family members setting up a holding company in an attempt to fend off unwelcome advances from much larger rival LVMH Moet Hennessy Louis Vuitton.

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