Inter Parfums

LVMH subsidiary LV Capital increasing equity ownership in Inter Parfums to 20% of outstanding shares at $12 per share, LVMH announced Sept. 28. As a result, Inter Parfums will expand its board to 10 directors, with two seats to be filled by LV Capital, according to a 13D filing with the Securities Exchange Commission Sept. 27. The move marks the second time LVMH has purchased Inter Parfums shares; the Paris-based company bought 6.3%, or 467,400 outstanding shares in August and stated intentions to increase the stake to a "significant minority" (1"The Rose Sheet" Aug. 9, In Brief). The transaction is expected to close in early November