(Reuters) – Tiffany & Co (N:) has received regulatory approvals from the European Commission for its $16 billion acquisition by French luxury goods group LVMH (PA:), the U.S. jeweler said on Monday.
The EU decision comes amid a legal battle between LVMH and Tiffany, with the latter suing the Louis Vuitton owner in a Delaware court, alleging that the French company has deliberately been stalling the completion of the deal.
Tiffany added that with the EU nod, it had all regulatory approvals required for the completion of the deal.
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