L’Oréal Sells €3 Billion of Sanofi Stock Back to Drugmaker
Cosmetics giant L’Oréal SA is selling a €3 billion ($3.1 billion) stake in Sanofi back to the French drugmaker, cashing in part of its holding after Sanofi’s shares outperformed the market over the past year. L’Oréal is selling 29.6 million shares at €101.50 each, the companies said in statements Monday.
Kering Sells Italian Luxury Outlets to Alleviate Debt
Kering has sold its “The Mall Luxury Outlets” unit to US real estate company Simon, the French luxury conglomerate said in a statement on Thursday. The divestment will generate net proceeds of approximately €350 million ($365 million) for the Gucci owner, hit harder than its peers by the global luxury
