LVMH won't seek stake in Credit Lyonnais; luxury-goods company to make new U.S. acquisition

Article Abstract:

LVMH Moet Hennessy Louis Vuitton has withdrawn its bid for a 1% stake in Credit Lyonnais in its coming privatization. LVMH wanted to develop a credit-card partnership with the French bank, but lost interest when all the other prospective bidders turned out to be financial groups. LVMH says that it will instead make a US acquisition in fragrances and cosmetics. LVMH Chairman Bernard Arnault says the group's operating income should increase 15% in 1999 compared to 1998, and is positioned to profit from an Asian recovery.

United States, Diversified Companies, Asset sales & divestitures, Acquisitions & mergers, Planning, Finance, LVMH Moet Hennessy Louis Vuitton S.A., Credit Lyonnais

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Credit Agricole designs IPO to start low, finish high

Article Abstract:

Credit Agricole prices shares of its initial public offering relatively low, and limits stock offered to institutional investors, in hopes the price will quickly rise.

Organizational history, Statistical Data Included, Securities, Credit Agricole

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