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France's LVMH nears deal to buy hotel operator Belmond - WSJ

Reuters
A woman with a Louis Vuitton-branded shopping bag looks towards the entrance of a branch store by LVMH Moet Hennessy Louis Vuitton in Vienna, Austria October 4, 2018. REUTERS/Lisi Niesner (Reuters)

(Reuters) - French luxury group LVMH Moet Hennessy Louis Vuitton SE <LVMH.PA> is near a deal to buy UK-based high-end hotels operator Belmond Ltd <BEL.N> for about $25 per share in cash, the Wall Street Journal reported on Thursday.

The potential deal, which could be announced as early as Friday, would value Belmond's equity at about $2.6 billion, the Journal reported, citing people familiar with the matter.

The reported price would represent a premium of more-than 40 percent to the close of Belmond's shares on the New York Stock Exchange on Thursday.

Including debt, Belmond's enterprise value would be about $3.2 billion, the WSJ said.

Belmond declined to comment, while LVMH was not immediately available.

(Reporting by Ismail Shakil in Bengaluru; Editing by Sandra Maler)