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Nestlé reiterates L’Oréal stake as purely financial investment
THE WHAT? Nestlé has reaffirmed that its stake in L’Oréal is held purely as a financial investment, with no change to its position or strategy regarding the shares. THE DETAILS Speaking to Swiss newspaper Finanz und Wirtschaft, Nestlé CEO Philipp Navratil said the company regularly reviews its holding in L’Oréal at board level but…
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Minnesota jury awards US$65.5 million verdict against Johnson & Johnson in talc asbestos case
THE WHAT? A Minnesota jury has awarded US$65.5 million in damages against Johnson & Johnson after finding that the company’s talc-based consumer products exposed a plaintiff to asbestos and contributed to her developing mesothelioma. THE DETAILS The verdict follows a 13-day trial in Ramsey County District Court, where jurors heard evidence that Johnson &…
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L’Oréal Increases Galderma Stake to 20% in Move to Deepen Presence in Aesthetics
THE WHAT? L’Oréal has acquired an additional 10% stake in Galderma Group AG, bringing its total ownership to 20% as it strengthens its position in the fast-growing medical aesthetics category. THE DETAILS The shares were purchased from a consortium led by EQT—which includes Sunshine SwissCo, ADIA and Auba Investment—for an undisclosed amount. As part…
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L’Oréal Signals Imminent Work on Potential Armani Stake Following Heir Instructions
THE WHAT? L’Oréal has confirmed it will begin work “very soon” on evaluating a potential investment in Giorgio Armani, following new instructions from the late designer’s will outlining a phased sale or listing of the fashion house. THE DETAILS Speaking at a fireside chat with analysts, L’Oréal CFO Christophe Babule said the beauty group…