L'Oréal will be ready to buy Nestlé's 29.5% stake in L'Oréal next year, CEO Jean-Paul Agon has told French publication Les Echos. The newspaper quoted Agon as saying the French cosmetics giant would have the means to buy Nestlé's holding from April 2014, when a ten year mutual right of first refusal with L'Oréal's founding Bettencourt family expires, which will allow the Swiss food group to sell. Agon estimated the value of Nestlé's holding at around €22bn.
L\'Oréal CEO fuels speculation over Nestlé deal
French cosmetics giant will be ready to buy out Nestlé stake in 2014, says Agon
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L’Oréal finalises ‘significant’ €4 billion acquisition of Kering Beauté
The French beauty giant has completed its deal to acquire Kering’s beauty division after securing approval from competition authorities, which includes exclusive 50-year beauty and fragrance licences for Bottega Veneta and Balenciaga
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