CADE approves deal between L'oreal and Nestle

The supervision of the Administrative Council for economic Defense (Cade) approved, without restrictions, the sale of certain assets of Innéov and of all the shares of its Brazilian subsidiary, Innéov, Brazil to Galderma Pharma, Switzerland wholly owned holding company to Nestlé.
The Innéov is a joint venture of French origin belonging to L ' Oréal and Nestlé groups, with 50% stake each.
Second opinion of Cade, the operation does not entail overlap horizontally or vertical integration. "The proposed operation comes to mere substitution of economic agent, which does not bring developments in competitive terms in Brazil".
The approval was issued on order in the "Diário Oficial da União" this Tuesday