Puig registered this Tuesday a strong rebound close to 15% in the first minutes of trading on the Stock Exchange, after communicating yesterday, after the market close, that it is holding talks with the American Estée Lauder to analyze a possible merger of their activities.
Around 9:25 a.m., the shares of the Catalan group advanced by 14.77%, to 17.81 euros per share, which placed the company as the best performing stock on the Ibex 35 at that moment.
According to what the Spanish beauty firm conveyed this Monday to the National Securities Market Commission (CNMV), for now “no definitive decision has been taken, for the moment, nor has any agreement been reached between the parties”.
In the same communication, the company stressed that, while there is no binding commitment, “it cannot be guaranteed that the operation will materialize nor the terms thereof.”
Last March 17, Puig's board of directors agreed to the appointment of José Manuel Albesa as the company's new CEO, replacing Marc Puig, who resigned from the position, although he will continue to serve as executive chairman.
That same day, the appointment of Miquel Àngel Serra as financial director was also decided, replacing Joan Albiol, who, nevertheless, will continue to perform the functions of non-director secretary of the administrative body.