Sep
22
Death of L'Oreal Heiress at 94 Raises Question About Nestle Stake in the Company
Posted in: Uncategorized
Liliane Bettencourt, heiress to the L’Oreal beauty business and the world’s wealthiest woman, has died at age 94, the company announced Thursday.
Her death technically opens the door for the world’s biggest food company, Nestle, to acquire the world’s biggest beauty marketer. Nestle and the Bettencourt family have had a longstanding agreement that neither could increase their stake in L’Oreal until six months after her death.
Nestle executives have declined to indicate their plans, though the company reduced its L’Oreal stake in 2014 to 23 percent from 29 percent and is under pressure from activist investor Dan Loeb to sell remaining shares.
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