By  on March 24, 2014

PARIS — L’Oréal and Nestlé have signed an agreement clearing the way for L’Oréal to complete the acquisition of 48.5 million of its own shares from Nestlé, the French cosmetics giant said Monday.

The two parties signed the share purchase agreement on Friday, after the L’Oréal board authorized the sale to Nestlé of L’Oréal’s stake in Galderma — a condition for the broader deal to go through.

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