Nestle to offload L’Oreal stake worth $10 billion


FILE PHOTO: A Nestle logo is pictured at Vers-chez-les-Blanc in Lausanne, Switzerland August 20, 2020. REUTERS/Denis Balibouse

December 7, 2021

(Reuters) – Nestle SA said on Tuesday it had agreed to sell 22.26 million L’Oreal shares to the cosmetics brand for 8.9 billion euros ($10.03 billion).

Following the deal, Nestle said it would own 20.1% of L’Oreal.

($1 = 0.8876 euros)

(Reporting by Praveen Paramasivam in Bengaluru; Editing by Ramakrishnan M.)

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