The owners of Glenmorangie are to receive £150m from the sale of the Scotch whisky to Louis Vuitton Moet Hennessey.
The Scottish Macdonald family own a 52% stake in the whisky company that LVMH has offered £300m to buy. The bidding for the company had become so high that rival Pernod Ricard had withdrawn from the sale.
The sale will give investors £17.18 for their A shares, netting themselves a 20% premium to last nights closing price. However, holders of the B shares are being offered £24.13, more than £4 below the price the B shares last traded at. This may mean holders of the B shares are less likely to accept the bid.
Former chairman of Glenmorangie David Macdonald, heads the 15 members of the Macdonald family who will have a share of the £150m.
The deal will also give LVMH control of the Ardberg, Glen Moray, and Drambuie brands. They already have Hennessy Cognac and Krug Champagne.
The deal ensures that LMVH keep on the 360 Glenmorangie workers and pay for the continued development of the brand, according to chief executive Paul Neep.
