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September 10, 2001
By: TOM BRANNA
Editor
The world’s biggest luxury goods group LVMH , owned by billionaire Bernard Arnault, and Pinault Printemps Redoute (PPR) controlled by France’s richest man Francois Pinault, said they and Gucci had sunk their differences in an agreement satisfactory to all sides.“We have got a deal,” a Gucci spokesman told Reuters. “It secures our independence and we have got a great deal for independent shareholders.”The three-stage deal includes a $7 special dividend to be pa...
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