BARCELONA (Agefi-Dow Jones) – Swiss agribusiness group Nestlé on Thursday evening announced the end of its current share buyback program, launched in January 2020, which will be replaced next week by a new plan of a amount of 20 billion Swiss francs (19.3 billion euros).
As part of the program which ended, also in the amount of 20 billion Swiss francs, Nestlé bought back just over 123 million of its own shares for a total amount of 13.06 billion francs. Just under 72 million shares have already been canceled and shareholders, meeting in general meeting, will vote in 2022 on the cancellation of the balance of 51 million shares, Nestlé said in a press release.
Nestlé’s new share buyback program, announced in early December, follows the sale of 22.6 million L’Oréal shares to the French cosmetics manufacturer for a total of 8.9 billion euros. This program will begin on January 3 and is expected to end in 2024.
-Joshua Kirby, Dow Jones Newswires
(French version and contribution by Valérie Venck) ed: JXM
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
December 31, 2021 02:12 ET (07:12 GMT)