Bonelli and Chiomenti lead on French luxury goods giant LVMH's €2bn cashmere purchase

Bonelli Erede Pappalardo and Chiomenti Studio Legale have taken the lead roles on French luxury goods conglomerate LMVH’s purchase of a €2bn (£1.7bn) stake in Italian cashmere producer Loro Piana.

LMVH, which was formed by the 1987 merger of fashion house Louis Vuitton with Moet Hennessy, has bought an 80% share in family-run Loro Piana in a deal that is subject to approval from competition authorities.

Bonelli acted for longstanding client LVMH with a team headed by M&A partners Umberto Nicodano and Stefano Micheli, which included senior associate Nicola Marchioro.

Meanwhile, Chiomenti advised the seller with a team including corporate partners Michele Carpinelli, Luca Fossati and Alessandra Pieretti.

High-profile brands owned by LMVH include fashion houses Donna Karan and Marc Jacobs, perfume brands Christian Dior and Givenchy, accessories producers Bulgari and Fendi and wine and spirits brands Dom Perignon and Hennessy.

Loro Piana is expected to achieve sales of €700m (£604m) in 2013.

Both Bonelli and Chiomenti previously advised on the 2011 deal that saw LMVH purchase Bulgari for €3.9bn (£3.4bn), with Bonelli advising the buyer and Chiomenti leading for the Italian jeweller.