Brothers Paolo and Nicola Bulgari and their nephew Francesco Trapani have sold a 558 million euro stake in LVMH,
the
Financial Times
reported.
The Bulgari family acquired the stake when they sold their Italian jewelry company to LVMH in March 2011. Trapani is now head of LVMH’s watches and jewelry division.
The
FT
report said the family “decided to reduce their stake after a strong rise in the shares in the past year and a strong set of results” for LVMH. (Source:
Financial Times,
Feb. 7, 2012.)
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