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Nestlé and L'Oréal part ways
L’Oréal is reportedly buying back 8% of its shares from Nestlé, loosening their long-standing alliance.
L’Oréal will buy 48.5 million of its own shares. Following the transaction, Nestlé’s stake in L’Oréal will be reduced from 29.4% to 23.29% of the share capital and the Bettencourt Meyers family’s stake in L’Oréal will increase from 30.6% to 33.31%.
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Winick names senior director in Cranford, N.J., office
New York — Industry veteran Thomas has Kornitzer officially joined Winick Realty Group N.J., where he will serve as senior director in the company’s Cranford, N.J., office. Kornitzer will direct both landlord and tenant accounts, specifically working with such exclusive clients as Safeguard Self Storage, Pep Boys and Wendy’s.