This article was originally published in The Rose Sheet
Hamburg will sell its 10% stake in Nivea maker Beiersdorf for $1.63 mil., the German city announces. Deutsche Bank, which organized the sale, will sell Hamburg's 25.2 mil. shares of the company to institutional investors. The price of the stock will range from $62.15 to $64.74. Hamburg owned the shares through a holding company that was formed in 2003. The sale will increase Beiersdorf's liquidity on the Frankfurt stock exchange and increase the likelihood of the firm being included in Germany's blue chip DAX index. Sales for the Beiersdorf group reached $763.99 mil. in 2006, the company says...
You may also be interested in...
Emer Cooke seems set to take over as head of the European Medicines Agency – one of the world's most powerful regulatory bodies – before the end of the year. We report on the reaction of a range of pharmaceutical sector stakeholders to her nomination.
Clif Bar didn’t convince National Advertising Division a challenge by Kind is too “complex” for the SWIFT forum. NAD attorneys determined Clif didn’t support its claims of sustained energy and “better” performing ability.
Beauty Market News: China Cosmetics Regulations Modernized, Florida Stops Local Oxybenzone Bans, More
L’Oreal acquires Thayers Natural Remedies; Unilever, L’Oreal remove ‘whitening,’ ‘fair’ from labels; China finalizes modernization of cosmetics regulations; and Florida governor signs law preventing local bans on oxybenzone.