Steem Block
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A blog for Small Business Consultants and the vendors who serve them. In 1974, fearing that France would nationalise the corporate, Bettencourt did a cope with Nestle whereby she offloaded about half her holding in alternate for shares in Nestle. Since then Nestle and Bettencourt have had one of the longest tangos in business history. Nestle, a meals firm, with no presence at all in cosmetics, had a 30{d113e29adaaae6eefefc2f3d4943c2d01051ab74ff0eb5abc002113f3dc59a25} stake in the world’s largest cosmetics company (now all the way down to 23{d113e29adaaae6eefefc2f3d4943c2d01051ab74ff0eb5abc002113f3dc59a25}). But in an settlement with Bettencourt, Nestle remained a sleeping associate and promised to not acquire any extra shares or to bid for Bettencourt’s personal shares so long as she was alive. Presumably Nestle had thought that she would not live so long. However they stored their phrase and until now have not interfered at all in the business just pocketing the dividends and biding their time. So much so that very few exterior the business world in all probability even know that Nestle is a major shareholder in L’Oréal.