LVMH Moët Hennessy Louis Vuitton SE (LVMH.PA), the world’s leading luxury group, and Belmond Ltd. (NYSE: BEL), owners, part-owners or managers of 45 luxury hotel, restaurant, train and river cruise properties, today declared that the acquisition of Belmond by LVMH has been completed.

This transaction, which was announced on December 14, 2018, received approval from Belmond’s shareholders on February 14, 2019, and closed effective today.

Under the terms of the $3.2 billion enterprise value transaction, Belmond’s shareholders received $25.00 per Class A share in cash. With the completion of the acquisition, Belmond’s Class A common shares will no longer be listed on the New York Stock Exchange.