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Hermes files complaint over LVMH purchase Tuesday, 4th September 2012
Hermes has filed a legal complaint concerning the way in which rival LVMH bought a stake in the company two years ago.
According to a statement released today, Hermes filed the complaint against LVMH on 10 July.
In 2010, LVMH bought a 14.2 per cent stake in the luxury company. The holding reached 22.28 per cent by the end of May.
In an attempt to avoid a takeover, the Hermes family put together a holding company which controlled 52 per cent of its shares. As a result of this, any move to take over the group would require majority approval.