The Swiss group RICHEMONT (2.94 bn euro turnover for 1999/2000) has paid CHF 2.9 bn for LES MANUFACTURES HORLOGERES, the "watches" section of the German firm MANNESMANN, comprising of 60% in JAEGER-LECOULTER, 100% in IWC - INTERNATIONAL WATCH COMPANY and 90% in LANGE UND SOHNE. So as to gain the 100% in JAEGER-LECOULTRE, RICHMONT has also acquired the remaining 40% stake from the Swiss watches manufacturer AUDEMARS-PIGUET for CHF 280 million.