("L'Oreal Buys Skin-Care Brand Cadum For Undisclosed Amount," at 1642 GMT, misstated the name of the company in the fourth paragraph. The correct version follows:)
French cosmetics company L'Oreal SA (OR.FR) said Thursday it had closed a deal to buy skincare company Cadum from London-based investment fund Milestone Capital, without disclosing the amount paid.
The company said the business, whose sales were at EUR58 million in 2011, will join France's consumer products division.
Earlier Thursday, a press report said that the deal would be signed during the day for EUR200 million.
L'Oreal declined to comment on the financial details of the transaction.
-By Nadya Masidlover, Dow Jones Newswires; +33 1 4017 1740; [email protected]