Quick links: United States | Major Indices | Indices Future | Real-time Commodities | Webinars | Coronavirus | Economic Calendar
Stock Market
Google executive to take over as a new CEO of Pinterest
Stock Market
Accounting firm gets 100 million fine for faulty regulations
Forex
The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price
Stock Market
Wall Street Lose Balance after recession strikes growth fear among consumers’
Stock Market
Inflation ringing the recession bell - Mohammed Shaheen
Stock Market
8 Dec 2021
Nestlé’s Sale of L’Oreal Shares Welcomed by Investors of Both Companies
The Index Today
The Index Today — Nestlé’s decision to sell stakes in L’Oreal has been met with a positive response from the investors of both companies.
Nestlé has been a major shareholder in L’Oreal for the past forty years — an investment which has proven to be a profitable venture for the global food company. Nestlé’s shares which are valued at $10 billion, will be repurchased by L’Oreal, increasing the founding Bettencourt Meyers family’s stakes from 33% to 34.7%. This in turn will also bring down Nestlé’s holding in the company from 23% to 20%.
Nestlé’s move is a product of a two-month discussion between the chairmen of both the conglomerates. Although the company has no plans of selling more of its L’Oreal shares anytime soon, the current sale has been hailed as a move that places it in the “best of both worlds” according to a spokesperson for Nestlé.
©Photo: DENIS BALIBOUSE/REUTERS
