Kering is in talks to sell its beauty division to L’Oreal for around €3.5 billion in what would be the biggest deal in the beauty sector in recent years, three senior industry sources said. They confirmed a report by the Wall Street Journal published on Saturday. The potential deal comes as L’Oréal, cited as a welcome shareholder by Giorgio Armani in his will, has said it would also consider making a bid for the Italian fashion and luxury group.
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