LVMH to redistribute Hermes shares Dec.17

PARIS, France - LVMH said on Monday it would redistribute the Hermes shares it owns to LVMH shareholders on Dec. 17 as part of a dispute-ending agrement between the two luxury groups in September.

LVMH, the world's biggest luxury group and owner of fashion brands Dior and Louis Vuitton, also said that it would pay an interim cash dividend of 1.25 euros per share on Dec. 4.

In September, LVMH agreed to offload its stake in Hermes to end hostility between the two groups that started in 2010 when LVMH revealed it had started building a holding in Hermes, a move its smaller rival regarded as hostile.