L'Oréal and Nestle finalise share buyback deal

PARIS - L'Oréal finalised the buyback of an 8 percent stake in the French cosmetics giant from the Swiss food group Nestle in a deal that will boost earnings per share by more than 5 percent on a full year basis, L'Oréal said on Tuesday.

L'Oréal also said it had completed the disposal of its 50 percent stake in Galderma to Nestle and that the number of Nestle representatives on L'Oréal's board was reduced from three to two directors.