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4-Traders Homepage  >  Equities  >  Swiss Exchange  >  Nestlé    NESN   CH0038863350

NESTLÉ (NESN)
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L'Oreal ready to buy shareholder Nestle's stake in the firm - CEO

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02/09/2018 | 10:47am CET
View of the entrance of cosmetics company L'Oreal's new World hair research centre in Saint-Ouen

PARIS (Reuters) - L'Oreal (>> L'Oréal) stands ready to buy Nestle's (>> Nestlé) 23 percent stake in the firm should its Swiss shareholder choose to sell, and it could finance a purchase through cash, by selling its Sanofi (>> Sanofi) stake or by borrowing, L'Oreal's CEO said.

PARIS (Reuters) - L'Oreal (>> L'Oréal) stands ready to buy Nestle's (>> Nestlé) 23 percent stake in the firm should its Swiss shareholder choose to sell, and it could finance a purchase through cash, by selling its Sanofi (>> Sanofi) stake or by borrowing, L'Oreal's CEO said.

"If Nestle one day wants to sell, we are ready," L'Oreal's Chairman and Chief Executive Jean-Paul Agon told a news conference on Friday, after the cosmetics company released its fourth-quarter earnings on Thursday.

"we have 1.8 billion euros (1.58 billion pounds) in cash, we have the Sanofi stake. We are also a very serious and loyal and active shareholder in Sanofi, but in case we will be ready and I'm sure if it was not enough, we have many love letters from banks that have said that they would love to lend us some money."

Agon added that any decision to sell was in Nestle's hands.

(Reporting by Sarah WhiteEditing by Sudip Kar-Gupta)

Stocks treated in this article : L'Oréal, Sanofi, Nestlé
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Financials ( CHF)
Sales 2018 92 477 M
EBIT 2018 14 928 M
Net income 2018 10 459 M
Debt 2018 18 858 M
Yield 2018 3,32%
P/E ratio 2018 21,34
P/E ratio 2019 18,92
EV / Sales 2018 2,75x
EV / Sales 2019 2,68x
Capitalization 236 B
Chart NESTLÉ
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Nestlé Technical Analysis Chart | NESN | CH0038863350 | 4-Traders
Technical analysis trends NESTLÉ
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 86,5  CHF
Spread / Average Target 14%
EPS Revisions
Managers
NameTitle
Ulf Mark Schneider Chief Executive Officer & Director
Paul Bulcke Chairman
Magdi Batato Executive Vice President & Head-Operations
François-Xavier Michel Marie Roger Chief Financial Officer & Executive Vice President
Stefan Palzer Chief Technology Officer & Executive VP
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