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PPR in talks with L’Oreal to sell YSL Beaute

French luxury goods empire PPR said Thursday it has entered exclusive talks with L’Oreal after the cosmetics giant offered to buy its YSL Beaute unit for 1.15 billion euros (1.68 billion dollars).L’Oreal’s firm offer calls for all shares of YSL Beaute Holding, including its Roger & Gallet subsidiary, to be sold to L’Oreal on the basis of an enterprise value of 1.150 billion euros, PPR said in a statement.

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