L'OREAL Launched A New 500 Million Euro Share Repurchase Program

L 'Or e al SA (OREP.PA)

The group adopted the nomination of two new directors at the 17 annual general meeting of shareholders, and announced the launch of a new 500 million euro share repurchase plan.

According to the world clothing shoes and hats net, France

Group Herm s International SCA (HRMS.PA)

International CEO Axel Dumas, and France's largest military enterprise Thales SA (TCFP.PA), chairman and CEO Patrice Caine of terrace group, will join the board of L L Or Or al SA L'OREAL group.

The world's largest beauty group also extended its chairman and CEO Jean-Paul Agon and German pharmaceutical company Merck KGaA Merck group's medical company CEO Bel e n Garijo as its director during the annual general meeting.

L 'Or al SA L'OREAL group's 15 person board will increase to 17 people, 7 of whom are women, accounting for 46.7% to 41.2%.

The main competitor, The Est e Lauder Cos. Inc. (NYSE:EL), announced this week that two new female directors, the United States high-end clothing leasing business Rent the Runway Inc., the founder and chief executive officer of the Rent the Runway and chief executive officer of the enterprise digital operation management platform, were also announced. The scale of the board expanded to 17 while the proportion of female directors increased to 47%. The number of female directors increased to 47%.

L 'Or e al SA L'OREAL group will begin to repurchase 500 million euro shares in the two quarter.

When shareholders asked about Nestl SA (NESN.S) Nestle holdings, Jean-Paul Agon said the Swiss food group had the right to remain open to choice.

After half a year after the death of L 'Or al SA, the successor of L'OREAL group, Liliane Bettencourt Lili and Bedangourt, in September 2017, Nestl SA SA Nestle and its 44 year shareholder agreement failed in March 21st this year.

"We can not predict the next step of Nestl SA Nestle," Jean-Paul Agon said to shareholders on 17 th. "We welcome Nestl SA Nestle holdings, which will strengthen L" Or al SA L'OREAL. "

Nestl e SA Nestle has already indicated that it neither intends to renew the agreement nor does it intend to increase its holdings. At the present stage, it has not yet decided how to handle the 23% L Or al SA L'OREAL shares.

Since last year, the group has been under the pressure of L Point Or al SA, L'OREAL shares, to be sold by the Third Point LLC, a well-known investor in the US Dan Loeb. In February this year, the group emphasized that shares of L "Or" and "L'OREAL" were beneficial to both sides.

Jean-Paul Agon also said that "ready to" buy back Nestl ye SA Nestle's holdings, according to L 'Or e al SA SA L'OREAL group's current market value of more than 100 billion euros, they need to raise 23 billion euros of funds.

Analysts believe the group can raise funds by selling 9% stake in French pharmaceutical giant Sanofi SA (SASY.PA), Sanofi, and Jean-Paul Agon said on 17 that there was no such plan.

The L 'Or al SA L'OREAL group achieved a comparable growth of 6.8% in the latest quarter, continuing to be driven by the double digit growth of the newly upgraded Cosmetics Department of Giorgio Armani, Armani, and the active health cosmetics department in 2050.

L 'Or e al SA (OREP.PA) 18 reported 191.55 euros, down 1.14% worldwide, narrowing the cumulative increase to 5.2% in 2018.

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