Distressed Asset Empire-Building

“Returned to the hands of a private buyer, the Agache-Willot group would give birth to the flagship of the global luxury industry: LVMH.”

“It thus clearly appears that the Willot group benefits from extraordinarily favorable conditions in this operation. Not only does it not have to spend a cent in taking over Boussac, but on the contrary, it improves its cash flow through the recovery of receivables and liquidity and by selling Boussac's stock. A new working capital is established thanks to the supplier credit that the group can negotiate again. The sales of assets already made will allow for the repayment of the first installments.”