L'Oréal welcomes Sanofi-Synthélabo's friendly takeover of Aventis

L’Oréal has given its full approval to the offer made by Sanofi-Synthélabo for Aventis announced today, and will approve the capital increase to be submitted to the Shareholders' Meeting of Sanofi-Synthélabo.

L’Oréal welcomes the friendly nature of the offer, which should facilitate the merger of the two groups and pave the way for the success of the new Sanofi-Aventis entity. The Supervisory Board and the Management Board of Aventis both recommended acceptance of this transaction.

This offer will enable the creation of a major new global player in the pharmaceutical industry.

As already announced on 26th January 2004, L’Oréal intends to keep its shares and will record its share of the dividends paid by Sanofi-Aventis in its consolidated income statement.