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L’Oreal ready to buy Nestle stake in cosmetics leader

L'oréal .org



L‘Oreal on Friday underscored its readiness to buy Nestle’s 23 percent stake in the world’s biggest cosmetics firm were its Swiss shareholder to sell, saying it had access to cash and funding at its disposal. L‘Oreal said it could finance a purchase of the holding, now worth around 22.3 billion euros ($27.4 billion), with cash, by selling its stake in French drugmaker group Sanofi or through borrowing if needed.

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