Breaking News

Li Ka-shing To Buy Marionnaud Parfumeries

December 9, 2005

PARIS: Hong Kong retail magnate Li Ka-shing has agreed to buy ailing French retailer Marionnaud Parfumeries SA, injecting Parisian cachet into his Hutchinson Whampoa Ltd. empire by acquiring one of the leading perfume and cosmetic vendors in Europe.
“It’s a happy marriage for us,” said Marionnaud founder Marcel Frydman, whose family controls about a third of its voting rights. He added that the goal was “lasting and profitable growth” and insisted job cuts were not planned.
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