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Arnault Reorganizes Holding to Ensure Family Control of LVMH

Bernard Arnault

Bernard Arnault

Photographer: Nicholas Kamm/AFP/Getty Images

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Bernard Arnault is reorganizing his holding company as the French billionaire seeks to ensure long-term family control over LVMH, the luxury empire he’s built.

Europe’s wealthiest person is turning Agache, his family holding company, into a joint-stock partnership. The change will guarantee that Agache’s “control over the LVMH group will be maintained over the long term,” according to a statement Thursday.