Darrois Villey Maillot Brochier advises Nestlé in the context of the share buy-back by L’Oréal of its own shares owned by Nestlé

Paris, 9 December 2021

Darrois Villey Maillot Brochier advised its client Nestlé S.A. (“Nestlé”) in connection with the share buy-back by L’Oréal S.A. (“L’Oréal”) to Nestlé, of 22,260,000 of its own shares, representing approximately 4% of its share capital, for a total amount of approximately € 9 billion. The repurchase shares will be cancelled by L’Oréal at the latest on 29 August 2022 with a possibility to postpone (if L’Oréal and Nestlé agree) to 31 October 2022.

Following the sale and the subsequent cancelation, Nestlé will retain a stake of approximately 20.1% of L’Oréal’s share capital.

The Darrois Villey Maillot Brochier team is composed of Jean-Michel Darrois, Emmanuel Brochier, Bertrand Cardi (partners) and Stanislas Darrois (associate) on corporate aspects and Laurent Gautier (partner) on capital markets aspects.