TIMELINE

January 1999

LVMH increases its share stake in Gucci to 34 per cent

6 January 1999

LVMH informs the Securities and Exchange Commission that it owns more than 5 per cent of shares in Gucci

17 February 1999

Gucci lends 20,154,985 shares to a newly formed Dutch foundation with an understanding that it would purchase them later. This arrangement is linked to a purported employee stock option plan (Esop)

3 March 1999

Enterprise Chamber of the Amsterdam Court of Appeal rules that the Dutch foundation's and LVMH's voting rights are suspended

9 March 1999

LVMH agrees not to take control of Gucci's supervisory board or interfere with its management. A meeting is scheduled for 19 March

19 March 1999

Gucci issues 39 million shares to PPR in a Strategic Investment Agreement (SIA). PPR now has 44 per cent of Gucci's share capital, thus limiting LVMH's stake in Gucci to 20 per cent

22 March 1999

Enterprise Chamber rules that LVMH's voting rights are restored and PPR's SIA is suspended until a tender offer takes place

22 April 1999

Enterprise Chamber rules that Gucci's annual shareholders meeting should be held back until after the court's final ruling, thus delaying Gucci's spending of PPR's $2.9bn (£2bn)

27 May 1999

Enterprise Chamber rules that Gucci is guilty of mismanagement in terms of the timing of the PPR transaction. It also annuls Esop

June 1999-July 2000

LVMH files three lawsuits before the Dutch Supreme Court

27 September 2000

The Supreme Court of the Netherlands rules that Enterprise Chamber overstepped its authority with its qualification of mismanagement against Gucci without having ordered an investigation, and returns the case to Enterprise Chamber

November 2000

Gucci reports LVMH to the European Commission

10 November 2000

Gucci announces that it has abolished Esop and will be issuing new shares to its employees

8 March 2001

Enterprise Chamber rules that an investigation should be launched into Gucci's PPR transaction. LVMH's claims that Gucci secretly granted huge share options to Gucci's chief executive officer Domenico de Sole and its creative director Tom Ford are thrown out by Enterprise Chamber

April 2001

Defamation charges brought by PPR and LVMH against each other due to be heard

September 2001

Dutch investigators due to report on the PPR transaction