Bernard and LVMH history with Guinness
https://apnews.com/article/d8251a288f1a1492c0d61a48d2ac0c8f
Guinness, Agache Acquire Stake In Moet-Hennessy
July 8, 1988
LONDON (AP) _ Guinness PLC said Friday it will join forces with a French luxury goods marketer to create a new company to hold a substantial stake in LVMH Moet- Hennessy Louis Vuitton, maker of champagne and upscale luggage.
Separately, LVMH will acquire 10 percent of Guinness, a leading British brewer that also makes Johnnie Walker Scotch Whisky and Gordon’s gin. Both transactions are subject to the approval of Guinness shareholders.
Guinness said it will invest a minimum 237 million British pounds, or about $408 million, for a 40 percent stake in a joint venture company to be formed along with Financiere Agache Group of France. The new company will control their joint LVMH holdings.
Agache, a holding company that controls the Christian Dior, Christian Lacroix and Celine fashion houses, would retain 60 percent of the joint venture company.
In a statement issued from its Paris headquarters, LVMH acknowledged that Guinness and Agache have amassed a 24 percent stake in the company on a fully diluted basis.
Guinness said the agreement with LVMH represents a ″natural progression″ of their existing relationship. Last year the two companies agreed to set up a series of joint ventures to distribute their products in the United States, Japan and the Far East.
*Bernard Arnault was also on the board of advisors for the 1MDB fund from 2010 to 2013
https://web.archive.org/web/20130924062148/http://www.1mdb.com.my/about-us-3/board-advisors