Interesting report from Fashion Wire Daily:
LVMH revealed Friday it has acquired a 50 percent stake in Chateau Cheval Blanc, the marquee St Emilion Premier Grand Cru, from a consortium controlled, well, by its chairman Bernard Arnault. LVMH Moët Hennessy Louis Vuitton, to give its full name, is the world’s leading luxury products group, and already owner of the nearby Château d’Yquem, the greatest sweet wine anywhere. The deal fits a classic pattern of LVMH of announcing new acquisitions during the August break, and boosted LVMH’s stock by 10 percent on the Paris Bourse, in an otherwise quiet session of trading. – from here