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News: LVMH in talks to buy Dutch luxury yacht maker

September 29, 2008 by john
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PARIS, Sept 1 (Reuters) – French luxury group LVMH (LVMH.PA: Quote, Profile, Research, Stock Buzz) said on Monday it was in exclusive talks to buy Dutch yacht maker Royal van Lent whaich is in the business of yacht construction.

The talks with owner Egeria, a Dutch investment firm, are based on an acquisition price worth approximately 11 times net profit.

The shipyard markets luxury yachts which sell for an average 30 million euros ($44 million) each.

The estimated price equates to a transaction value of less than 500 million euros, a source familiar with the talks said. (Reporting by Nathalie Meistermann; Editing by Quentin Bryar)

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