LVMH will buy the luxury hotel, restaurant, train and river cruise operator for $25 per Class A share in cash – representing an equity value of $2.6 billion and an enterprise value of $3.2 billion.
In the 12 months ended September 30, Belmond recorded total revenues of $572 million and adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) of $140 million.
The transaction is expected to complete in the first half of 2019 subject to the approval of Belmond’s shareholders and clearance by the relevant competition authorities.
