Hermes Asked Louis Weedon To Sell His Stake.

　　 French luxury goods The manufacturer, Hermes group, confirmed on the 19 day that it had filed a complaint with the Paris Commercial Court demanding that another French luxury goods manufacturer, Louis Weedon group, sell its 12% Hermes stake through its stock swap swap.

Hermes said Louis Weedon wanted to get Hermes equity from the very beginning, and the stock swap operation was "impure" and became "a tool for cheating the law". Therefore, the group applied to the Paris commercial court to "Cancel" Louis Weedon related operations.

In October 2010, Louis Vuitton The sudden announcement of the increase in Hermes shares ignited a "war" between the two luxury giants. A survey by the French Financial Market Authority revealed that Louis Weedon bought 4.9% of Hermes in 2001 and 2002, but deliberately concealed it. Since 2008, Louis Weedon has conducted a series of stock swap operations with three French banks. Three banks have bought Hermes convertible derivatives and converted derivatives into common stocks. Finally, Louis Weedon paid the bills in cash, but did not inform the market and financial regulators.

Hermes also prosecuted three banks, asking the three banks to sell the shares they sell to Louis Weedon to market again.

　　 Hermes 20% of the shares were publicly listed in 1993, and the remaining shares were held by family heirs and a handful of top executives. The Hermes family inherited 73.4% of the group's holdings, but the single heir held no more than 5%. In order to counter Louis Weedon's possible further takeover actions, Hermes set up a holding company on the one hand to bring together the scattered shares of the family heirs. On the other hand, he accused Louis Weedon of the financial regulators and the Paris Procuratorate of the "insider trading" and "manipulation of stock prices" in the operation.

At the end of May this year, the French financial market administration decided that Louis Weedon was suspected of "hiding the accounts", obtaining a "secret way" of Hermes, and suggested a fine of 10 million euros (about $13 million 250 thousand). But Louis Weedon was not identified with insider trading and manipulation of stock prices.