L'Oréal buys a small American brand. L'Oréal acquired Thayers Natural Remedies, an American skincare brand with annual revenues of $44 million. This is a very small group-wide transaction, but it illustrates L'Oréal's desire to diversify into niche markets. The amount of the acquisition was not disclosed.
A little air? London is expected to sign “air bridge” agreements with a few selected countries, including France, to allow international travel without going through quarantine. This would allow airlines that had complained recently, such as Ryanair, EasyJet and British Airways, to see their traffic resume under slightly more favorable conditions as the summer holidays approach.
Hertz gives up. Hertz Global Holdings is definitively giving up the idea of launching a capital increase in the context of its bankruptcy. The management wanted to take advantage of the enthusiasm that had allowed the stock to bounce back despite the ongoing Chapter 11 proceedings. But the American stock market policeman got involved, judging the operation extremely risky for investors. Hertz is negotiating a $1 billion loan.
The red line. Facebook is removing ads from the Trump campaign with a Nazi symbol. The ads featured inverted red triangles, a symbol used by the Nazis to designate political prisoners, accompanying a text asking Facebook users to sign a petition against the antifascist movement.
Almost on the top floor. ThyssenKrupp plans to finalize the sale of its elevator branch on July 31, as all the necessary authorizations have been obtained for a €17.2bn takeover by Cinven and Advent. This is a major operation for the German conglomerate, which needs to restructure in depth.
In other news. American supermarket chain Albertsons Companies wants to return to the stock market by placing 65.8 million shares on the market at between USD 18 and 20 each. Mithra raises 65 M€ via a private placement. 11% of SoftwareOne's capital has been put up for sale by KKR and other shareholders. AT&T and T-Mobile US will cut more jobs than expected as part of their respective restructuring plans. Movie theatre operator AMC Networks plans to reopen in mid-July. Troubled US carrier YRC Worldwide is postponing payment of its health care obligations.