French luxury group LVMH Moët Hennessy says it now controls just over 98% in Italian rival Bulgari following a tender by minority shareholders.

LVMH announced in March that it was acquiring Bulgari for EUR4.3bn ($6.2bn). The company confirmed last month it would pay EUR12.25 per share, which will be paid on 28 September with the ownership of the shares transferred to LVMH on that date.

Bulgari and LVMH both produce and sell high-end watches, jewellery, perfumes and cosmetics, as well as fashion and leather goods, including accessories.