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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 CEST
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
Stocks mentioned in the article
ChangeLast1st jan.
L'ORÉAL 0.54% 205.8 Real-time Quote.10.68%
SANOFI -0.39% 66.18 Real-time Quote.-7.53%
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Financials ( CHF)
Sales 2018 91 973 M
EBIT 2018 15 215 M
Net income 2018 10 518 M
Debt 2018 23 573 M
Yield 2018 3,23%
P/E ratio 2018 21,58
P/E ratio 2019 19,28
EV / Sales 2018 2,86x
EV / Sales 2019 2,76x
Capitalization 239 B
Chart NESTLÉ
Duration : Period :
Nestlé Technical Analysis Chart | NESN | CH0038863350 | 4-Traders
Technical analysis trends NESTLÉ
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 84,4  CHF
Spread / Average Target 9,4%
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
Sector and Competitors
1st jan.Capitalization (M$)
NESTLÉ-8.19%240 797
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MONDELEZ INTERNATIONAL-7.66%58 295
DANONE-7.25%51 531
ASSOCIATED BRITISH FOODS-2.48%29 114
GENERAL MILLS-27.80%25 382