FRANCE: LVMH poised to sell Pommery
The French drinks and luxury goods group, LVMH, is poised to sell its Champagne brand, Pommery, according to reports in the French press. LVMH is looking for a price-tag of between EUR230 million and EUR300 million ($202 million to $263 million) for the brand, the chateau in Reims where the Champagne is produced and around 20 hectares of vineyards. However, LVMH will retain the majority of the vineyards currently owned by Pommery to supply its other Champagne brands.
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