FRANCE: More Speculation About Nestle Takeover Of L’Oreal
A new report has renewed speculation about a possible takeover of L’Oreal by Nestle. Local magazine Challenges reports that Exane BNP Paribas has drawn up a scenario in which Nestle would raise its stake in L'Oreal from the current 28.9% to 51%.
Nestle and L’Oreal have been the focus of continued speculation over the past few months. The agreement between the Bettencourt family, which currently owns 30% of L’Oreal, and Nestle expires next April. The magazine cited a Bettencourt family member as saying that such a move would be considered "unfriendly."
NamNews - Thursday 27th November 2008