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LVMH poised to sell Omas pen business - report


Published : Wed, 31 Oct 2007 07:25
By : Agencies
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LONDON (Thomson Financial) - LVMH Moet Hennessy Louis Vuitton SA is nearing a deal to sell its Omas Italian pen business to Hong Kong watch distributor Xinyu Hengdeli Holdings Ltd, a person close to the situation told the Wall Street Journal.

Xinyu will buy a 90 pct stake, with LVMH retaining 10 pct, the person said

Omas posts annual sales of several million euros.

LVMH declined to comment.

tf.TFN-Europe_newsdesk@thomson.com

jms

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Copyright Thomson Financial News Limited 2007. All rights reserved.

The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

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