date:Feb 12, 2014
Nestl and LOral have announced a strategic transaction for both companies under which LOral will buy 48.5 million of its own shares (8% of its share capital) from Nestl. The deal nets Nestl 6.5 billion, and reduces its stake in LOral from 29.4% to 23.29%. Nestl said that it plans to use a portion of the funds to acquire the 50% of dermatology pharmaceuticals company Galderma that it does not own from LOral, giving it 100% ownership.
In order to reflect the change of Nestls stake in LOrals gover