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BREAKING NEWS

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

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PARIS (Reuters) – Swiss perfumes company Firmenich has agreed to buy a 17% equity stake in French peer Robertet <ROBF.PA> 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 1.6 billion euros (£1.42 billion).

(Reporting by Sudip Kar-Gupta; Editing by Clarence Fernandez)

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