By  on September 10, 2008

PARIS - Swiss beauty manufacturer Art & Fragrance SA has sold a 49.2 percent share of the French crystal and jewelry house Lalique to Financière Saint-Germain for 20.5 million euros, or $29.3 million at current exchange.

The deal was revealed as Zollikerberg, Switzerland-based Art & Fragrance posted first-half losses of 6.2 million Swiss francs, or $5.9 million at average exchange, due to challenging market conditions and the cost of restructuring Lalique, which it acquired from Groupe Pochet in February. Art & Fragrance's six-month sales came in at 45.9 million Swiss francs, or $43.8 million.

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