Bettencourt family and Nestlé continue to act in concert on L'Oréal for the time being

Published: 14-Apr-2009
Finance

The future of two major shareholders in L'Oréal is not entirely certain following expiry of a legal agreement at the end of April.


The future of two major shareholders in L'Oréal is not entirely certain following expiry of a legal agreement at the end of April.

The Swiss Nestlé group and the Bettencourt family signed a protocol in 2004 under which their holdings of 30% each in L'Oréal would cease on 29 April. It is understood that they did not wish to renew the agreement but have agreed to "act in concert in relation to the cosmetics company after 29 April 2009".

If a sell-off of the holdings is decided on, it is understood that Nestle would offer the shares to L'Oréal's founding family.

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