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Richemont sells Vivendi shares

October 2000




Richemont sells its holding of Vivendi shares

The Swiss luxury goods maker, Richemont, announced end September the sale of its holding of 17.5 million shares in the French conglomerate Vivendi, for the amount of1.78 billion Swiss Francs. The sale will allow the report of 530 million SFr. in Richemont's 2000/2001 results. The group however did not disclose the name of the buyer.
In July this year, Richemont already expressed its desire to sell the Vivendi shares and the group's President Nikolaus Senn indicated then that the projected sale would be fresh financial input for the acquisition of Les Manufactures Horlogères (Jaeger-LeCoultre, IWC and Lange & SÖhne).