September 26, 2019 / 6:16 AM / 2 months ago

Swiss perfume group Firmenich buys 17% stake in French firm Robertet

PARIS, Sept 26 (Reuters) - Swiss perfumes company Firmenich has agreed to buy a 17% equity stake in French peer Robertet and added on Thursday it may later acquire a bigger, controlling stake in the firm.

Firmenich, which says it is the world’s largest privately-owned perfume and taste company, said in an email it had reached a deal with First Eagle Investment Management to buy the 17% stake at a price of 683.30 euros per share.

The price represents a premium of 1.2% to Robertet’s closing price of 675 euros on Sept. 25. Robertet has a market capitalisation of about 1.6 billion euros ($1.8 billion). ($1=0.9130 euros) (Reporting by Sudip Kar-Gupta; Editing by Clarence Fernandez)

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