Belfast Telegraph

Wednesday 23 July 2014

Nestle buys Galderma from L'Oreal

Nestle is buying Swiss dermatological company Galderma from L'Oreal

Swiss food and drink giant Nestle and French cosmetics company L'Oreal have approved a deal to transfer ownership of Swiss dermatology pharmaceuticals company Galderma.

The companies say L'Oreal will buy 48.5 million of its own shares, or 8% of its share capital, from Nestle and give Nestle its 50% stake in Galderma, which has been a 50/50 joint venture between them.

Under the deal, which is subject to regulatory approval, the companies said Nestle's stake in L'Oreal will be reduced from 29.4 to 23.29% of the share capital and the Bettencourt Meyers family's stake in L'Oreal will increase from 30.6 to 33.31%.

Nestle says it is creating a new unit, Nestle Skin Health, that will be run by Galderma's management.

AP

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