LVMH to be shareholder of the Société des Bains de Mer in Monaco


Monegasque jewel of the luxury hospitality industry and casinos, SBM opened last March its capital up to EUR 220 million to finance major renovation projects of the Hotel de Paris, the Place du Casino and other constructions essential to the Principality.

Initiated for several months, the discussions between the SBM and LVMH, the French luxury group chaired by Bernard Arnault, resulted positively with the confirmation of its entry into the capital of the Société Des Bains de Mer up to 5%.

The SBM has also confirmed that the Group Galaxy Entertainment Group, a luxury hotel and Casino of Macao will also enter the capital in the same proportions as LVMH.

SBM remains main shareholder with 69.9% of the shares.

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