L'Oreal eyes Milestone's Cadum

France's L'Oreal is interested in buying soap and baby products company Cadum in a deal that could be worth 200 million euros ($264.16 million), Les Echos reported Monday.

L'Oreal's Chief executive Jean-Paul Agon is looking to open exclusive negotiations with Milestone capital, a Franco-British investment fund that owns Cadum, the newspaper reported.

Milestone acquired Cadum in 2007, investing 17.5 million euros in a leveraged buyout.

Calls to L'Oreal and Milestone were not immediately returned. ($1 = 0.7571 euros) (Reporting by Nina Sovich; Editing by Hans-Juergen Peters)