Back to News archiveParis and Vevey, Switzerland,Apr 9, 2009
On 3 February 2004, the Bettencourt family and the Nestlé company signed an agreement organising their relationship and the management of their stakes within the L’Oréal company.
The agreement is public1 and remains unchanged. It foresees the non-transferability of their respective stakes in the capital of L’Oréal until 29 April 2009, the other clauses (in particular, limitation cap, pre emption, escrow, prohibition on constituting a concert with any third party, formation of the board of directors and of the strategic and realisation committee) continue to be effective until the due date mentioned in the 2004 deed.
The Bettencourt family and the Nestlé company will continue acting in concert towards the L’Oréal company beyond 29 April 2009.
1 see notably the AMF publication dated 5 February 2004
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