Luxury brand giant behind Louis Vuitton has agreed to buy US jeweller Tiffany & Co in a $16.2 billion (over AED 59 billion) deal.
The billionaire owner of the Louis Vuitton brand Bernard Arnault said Tiffany had an "unparalleled heritage" and fitted with its other brands, Louis Vuitton and Bulgari.
The luxury brand announced on Monday that it would pay $135 a share in cash.
Founded in 1837 in downtown Manhattan, Tiffany now has more than 300 stores around the world and employs more than 14,000 people.
UAE Central Bank support package reaches AED 6.2 billion
Dubai Holding picks 15 scale-ups from 1,400+ applicants for sustainability challenge
ADNOC backs UAE's AED1 billion National Industrial Resilience Fund
Trump sets deadline for EU to comply with trade deal or face 'much higher' tariffs
Emirates Group marks record annual profits with 20-week staff bonus
