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LVMH v. Gucci

This article was originally published in The Rose Sheet

Executive Summary

Fashion house Gucci and parent Pinault-Printemps-Redoute will appeal to Dutch Supreme Court following March 8 ruling of Enterprise Chamber of the Amsterdam Court of Appeals in favor of LVMH, firm announces March 29. Amsterdam appellate court ordered full investigation into Gucci's partnership with PPR before reaching a final decision on the transaction. LVMH, which is requesting PPR either launch a full bid for Gucci or cancel deal, says Gucci's decision to appeal demonstrates company's "desperation in the face of mismanagement." Investigation expected to last six months. Move is latest in appeals battle after Amsterdam court rejected LVMH's case against Gucci May 27, 1999 (1"The Rose Sheet" June 14, 1999, In Brief). LVMH alleged PPR acquired 42% of Gucci without shareholder approval, a contention PPR and Gucci contest. LVMH is major Gucci shareholder, owning approximately 34% of capital
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