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Nestlé sells shares of the cosmetics giant to L'Oréal for 8.9 billion euros

2021-12-07T21:35:01.823Z

The Swiss agrifood giant will keep its two seats on the L'Oréal Board of Directors. The Swiss food giant, Nestlé, announced on Tuesday that it was reducing its stake in L'Oréal, by selling the French cosmetics group its own shares for 8.9 billion euros. Read alsoNestlé wants to make a quarter of its online sales in 2025 L'Oréal will cancel the repurchased shares, specifies the Nestlé press release, adding that it continues to fully support L'Oréal's value creation strategy and



The Swiss food giant, Nestlé, announced on Tuesday that it was reducing its stake in L'Oréal, by selling the French cosmetics group its own shares for 8.9 billion euros.

Read alsoNestlé wants to make a quarter of its online sales in 2025

L'Oréal will cancel the repurchased shares, specifies the Nestlé press release, adding that it continues to fully support L'Oréal's value creation strategy and will keep its two seats on the Board of Directors of the French company.

The 22.26 million L'Oréal shares were sold for 400 euros each (the title had closed at 391.90 euros on Tuesday on the Paris stock exchange).

Source: lefigaro

All business articles on 2021-12-07

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