LVMH to buy Belmond luxury hotel group for $3.2 billion
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PARIS (Reuters) - French luxury behemoth Louis Vuitton Moet Hennessy Friday said it agreed to buy luxury hotel group Belmond in a deal valuing the company at $3.2 billion (2.5 billion pounds).LVMH said it agreed to pay $25 per Belmond share, a 40-percent premium over the Thursday closing price.The operation, which is expected to be closed in the first half of 2019, values Belmond's equity at $2.6 billion, and the enterprise, including debt, at $3.2 billion.Belmond owns, partly owns or manages..