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Bulgari buyout

FASHION giant LVMH Moet Hennessy Louis Vuitton has agreed to buy Rome-based jeweller Bulgari in a cash and shares deal worth €4.3bn.

The deal will mean that Bulgari's founding family will become the second largest family shareholders in LVMH behind chief executive Bernard Arnault.

The Paris-based holding company behind luxury brands Christian Dior gowns, Dom Perignon champagne and Guerlain perfume is now listed as a €20bn company and the latest takeover means it will exchange 16.5 million of its own shares for the 56pc stake in Bulgari.