French billionaire becomes Christie's biggest shareholder

From: The Independent (London, England) | Date: May 6, 1998| Author: | Copyright information

A BILLIONAIRE investor has emerged as the largest shareholder in Christie's International, the auction house which called off discussions about a pounds 500m takeover earlier this year.

Christie's announced yesterday that Francois Pinault, one of France's richest businessmen, had acquired a 29 per cent stake in the business. The shareholding was acquired from Joe Lewis, the Bahamas- based investor who was a key member of the consortium of wealthy individuals which failed with a takeover approach to Christie's in January.

Christie's said it did not know if the share purchase was hostile and it ...

Read all of this article with a FREE trial to HighBeam Research

Related newspaper, magazine, and trade journal articles from HighBeam Research

(Including press releases, facts, information, and biographies)

Christie's to boost its commissions
; ...Bill Gates for pounds 19.2m, pushed turnover at Christie's International...deep water." Christie's scored a number...auctioned the pounds 12m Assyrian...passed through Christie's hands increased 12.3 per cent to pounds 820m. Hong Kong...
Football: Star boot sale unveiled by Christie's.(Sport)
; ...pounds 2,500 to pounds 3,500, will be amongst...for sale at the Christie's South Kensington...Heart Federation. Christie's estimates the...realise more than pounds 250,000. English...while more than pounds 500,000 was paid...memorabilia expert at Christies, with some of the...
Pounds 90m art auction fever sets a record for Christie's
; ...auction fever continued as Christie's sale of Impressionist and modern art made almost Pounds 90million. Last night's...ever art sale total for Christie's Europe, with mostly European...estimates and 26 lots topping Pounds 1million. The top lot...
PAIR OF LOSERS; CHRISTIE: His name is cleared but at a price; BILL..pounds 250,000; MCVICAR: No regrets about drugs cheat slur; BILL..pounds 200,000.(News)
; ...clash. But it ended with Christie - who won pounds 40,000 libel damages...the magazine article. Christie accepted pounds 40,000 agreed damages...that Johnsons can claim pounds 115,000 costs from Christie because he had refused...
French art-lover buys auction house Christie's.
; ...the group at pounds 721millio n...have entrusted Christie's auction rooms...price. In 1997, Christie's reported pre-t...pre-exceptional profits of pounds 40.6million, up from pounds 35.3million a year on sales of pounds 261.2million. Christie's ended the...
Christie wins but faces pounds 115,000 costs
; ...was left with a pounds 200,000 bill for...claiming that Linford Christie had used drugs...agreed to pay Mr Christie a total sum of "over pounds 40,000 in damages...Johnsons can claim pounds 115,000 costs from Mr Christie because he had...
Battle facing Christie at Boro.(Sport Boro)
; Byline: Eric Paylor Malcolm Christie is preparing for a hectic three months which will ultimately...Yakubu and Mark Viduka is keeping him out of the side, but Christie will fight on. He said: I have been to see the manager...The most difficult part is getting back into the team. Christie, a pounds ...
It was such a blinding failure The chairman of Christie's, talking for the first time since the trial of the head of Sotheby's, admits he knew that the two companies were colluding to fix charges. And, Lord Hindlip says, he had no doubt it would end in disaster
; ...know . . . about pounds 300,000. It depends...As chairman of Christie's International...worth more than pounds 15 million. The...It was a coup for Christie's - one largely...confirming that Christie's would honour Davidge...which included a pounds 5 million severance...
A nice little urner Collector wins Pounds 1.5m from Christie's after paying too much for peer's 'inferior' vases
; CHRISTIE'S suffered a...now pay up to Pounds 1.5million compensation...The judge said Christie's had "given...damages from Christie's of the difference between the Pounds 1.75 million...hundred thousand pounds. Miss Thomson...in Norfolk. Christie's is pursuing...
CHRISTIE WINDFALL HOPES; FOOTBALL.(Sport)
; ...would net Boro another pounds 25,000. Christie was snapped up by Derby...pounds 130,000 includes a pounds 25,000 payment when Christie starts for the first...on top of the initial pounds 55,000 fee when Christie made his debut at Hillsborough...