French cosmetics firm L'Oreal (OR.PA) is buying 8 percent of its shares from Swiss food group Nestle (NESN.VX) for 6.5 billion euros ($9 billion), loosening their 40-year partnership and allowing both firms to boost earnings per share. However, Nestle said on Tuesday the deal was not the start of a full exit from L'Oreal, leaving some uncertainty over the future of its remaining 23 percent stake in the maker of Garnier shampoo and Lancome creams. "This transaction is a bit of a letdown," Liberum Capital analysts said in a note, referring to media reports that L'Oreal might buy a larger proportion or even all of Nestle's stake. "We assume speculation may continue regarding Nestle's future plans.
via Business News - Yahoo Finance http://ift.tt/1g1U2H3
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