LVMH denies Moët Hennessy sale reports

Nicole Mezzasalma

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The luxury goods company said it is not in negotiations to sell its wines and spirits division

Luxury goods group LVMH Moët Hennessy-Louis Vuitton has denied it is in negotiations to sell wines and spirits division Moët Hennessy. A report in the Daily Telegraph newspaper suggested that liquor company Diageo was considering a €12bn ($15.5bn) takeover of LVMH’s drinks arm, which includes brands such as Dom Pérignon, Moët & Chandon, Krug and Veuve Clicquot champagnes, Hennessy cognac and Glenmorangie Scotch whisky.

LVMH said in a statement that it “officially denies reports in certain newspapers today that suggest the group is in discussions to divest Moët Hennessy”, adding: “LVMH confirms that no such negotiations are taking place.”