Deals
Nestle Will Trim Stake in L’Oreal to 20% With Share Sale
- Sale will reduce Nestle’s stake in cosmetics giant to 20.1%
- Move prompts question whether ‘amicable divorce’ has started
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Nestle SA is selling part of its stake in L’Oreal SA back to the cosmetics maker for 8.9 billion euros ($10 billion), scaling back a more than four-decade link between two of Europe’s biggest consumer-goods companies.
Nestle will own 20.1% of the French maker of shampoos and lipsticks after the sale of 22.3 million shares for 400 euros each, down from 23.3% at the end of last year. It’s the first time Nestle has reduced its holding since 2014, when it disposed of an 8% stake for 6 billion euros.