Following the authorization of its Board of Directors which met on 23rd January 2008, L'Oréal has, this same day, made a firm offer to PPR to:
- Acquire the shares of YSL Beauté Holding including the Roger&Gallet brand, for 1,150 million euros in terms of enterprise value,
- Obtain an exclusive and very long-term worldwide licence for the use of the Yves Saint Laurent and Boucheron brands in the category of perfumes and cosmetics, under conditions conforming to usual market practice,
- Take over the licences for the Stella McCartney, Oscar de la Renta and Ermenegildo Zegna brands, in the category of perfumes and cosmetics.

On the basis of this offer, PPR has granted exclusive negotiation rights to L'Oréal.

To read the whole news release

January 23, 2008