L’Oreal Mulls Sell­ing The Body Shop: Re­port

The Economic Times - - Around The World -

Paris: French cos­met­ics gi­ant L’Oreal is ex­plor­ing the pos­si­bil­ity of sell­ing The Body Shop for one bil­lion eu­ros ($1.1 bil­lion), the Fi­nan­cial Times re­ported on Wed­nes­day. Quot­ing two sources close to the French com­pany, the news­pa­per said that L’Oreal was “work­ing with bankers at Lazard on a re­view of its op­tions for the unit with an out­right sale among the most likely out­comes”. Con­tacted by AFP, nei­ther L’Oreal nor Lazard would com­ment on the re­port. Set up in 1976, The Body Shop says on its web­site that it has more than 3,000 stores in 66 coun­tries. L’Oreal ac­quired it in 2006 for 652 mil­lion pounds, or 940 mil­lion eu­ros at the time. L’Oreal is sched­uled to pub­lish its an­nual re­sults on Thurs­day. AFP

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