FRANCE: Taittinger holds talks with Frere over pact
The Taittinger family is in talks with Belgian financier Albert Frere in a bid to secure a shareholder pact, which will guarantee continued family control of the Champagne and hotels group. Frere bought into Taittinger in January 2001 after the company successfully fought off attempts by US-based corporate raiders, Asher Edelman and Guy Wyser-Pratte, to take over its hotels arm, Societe du Louvre. Frere, also on the board of Champagne and luxury goods group, LVMH, is thought currently to hold 19% of Societe du Louvre and 15.3% of its majority shareholder, Taittinger.
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