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FRANCE: Change of structure at Taittinger

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The main shareholders of Champagne Taittinger and Societe du Louvre have signed an agreement to simplify the structure of the two companies. The shareholders, the Taittinger family and Compagnie Nationale a Portefeuille/Nationale Portefeuille-Maatschappij, have agreed to merge the two holding companies, Compagnie Financiere Taittinger and Taittinger SA, to form a new holding company, Taittinger. The new holding company will own a 41.6% stake in luxury goods and hotel company, Societe du Louvre, and full control of Champagne Taittinger.

The Taittinger family will have 38.1% of the capital and 57.2% of the voting rights of the new holding company while CNP/NPM will have 24.5% of the capital and 15.5% of the voting rights. CNP/NPM will also own 14.7% of Societe du Louvre directly.


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