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LOréal will be ready to buy Nestlés 29.5% stake in LOréal next year, CEO Jean-Paul Agon has told French publication Les Echos. The newspaper quoted Agon as saying the French cosmetics giant would have the means to buy Nestlés holding from April 2014, when a ten year mutual right of first refusal with LOréals founding Bettencourt family expires, which will allow the Swiss food group to sell. Agon estimated the value of Nestlés holding at around €22bn.