Market Overview

LVMH Completes the Agreement with Belmond


LVMH Moët Hennessy Louis Vuitton SE (LVMH.PA), the world's leading
luxury group, and Belmond Ltd. (NYSE:BEL), owners, part-owners or
managers of 45 luxury hotel, restaurant, train and river cruise
properties, today declared that the acquisition of Belmond by LVMH has
been completed.

This transaction, which was announced on December 14, 2018, received
approval from Belmond's shareholders on February 14, 2019, and closed
effective today.

Under the terms of the $3.2 billion enterprise value transaction,
Belmond's shareholders received $25.00 per Class A share in cash. With
the completion of the acquisition, Belmond's Class A common shares will
no longer be listed on the New York Stock Exchange.

LVMH Moët Hennessy Louis Vuitton is represented in
Wines and Spirits by a portfolio of brands that includes Moët & Chandon,
Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier, Château
d'Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc, Colgin
Cellars, Hennessy, Glenmorangie, Ardbeg, Belvedere, Woodinville, Volcán
de Mi Tierra, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des
Andes, Cape Mentelle, Newton, Bodega Numanthia and Ao Yun. Its Fashion
and Leather Goods division includes Louis Vuitton, Christian Dior
Couture, Celine, Loewe, Kenzo, Givenchy, Pink Shirtmaker, Fendi, Emilio
Pucci, Marc Jacobs, Berluti, Nicholas Kirkwood, Loro Piana, RIMOWA and
Jean Patou. LVMH is present in the Perfumes and Cosmetics sector with
Parfums Christian Dior, Guerlain, Parfums Givenchy, Kenzo Parfums,
Perfumes Loewe, Benefit Cosmetics, Make Up For Ever, Acqua di Parma,
Fresh, Fenty Beauty by Rihanna and Maison Francis Kurkdjian. LVMH's
Watches and Jewelry division comprises Bvlgari, TAG Heuer, Chaumet, Dior
Watches, Zenith, Fred and Hublot. LVMH is also active in selective
retailing as well as in other activities through DFS, Sephora, Le Bon
Marché, La Samaritaine, Groupe Les Echos, Cova, Le Jardin
d'Acclimatation, Royal Van Lent, Belmond and Cheval Blanc hotels.

Belmond (
is a global collection of exceptional hotel and luxury travel adventures
in some of the world's most inspiring and enriching destinations.
Established over 40 years ago with the acquisition of Belmond Hotel
Cipriani in Venice, its unique and distinctive portfolio now embraces 45
hotel, rail and river cruise experiences in many of the world's most
celebrated destinations. From city landmarks to intimate resorts, the
collection includes Belmond Grand Hotel Europe, St. Petersburg; Belmond
Copacabana Palace, Rio de Janeiro; Belmond Maroma Resort & Spa, Riviera
Maya; and Belmond El Encanto, Santa Barbara. Belmond also encompasses
safaris, seven luxury tourist trains, including the Venice
Simplon-Orient-Express, and two river cruises. Belmond also operates
‘21' Club, one of New York's most storied restaurants. Further
information on the Company can be found at

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