Billionaire Saade's Wife Takes Charge of Expanding Media Empire [BNN Bloomberg (Canada)]
L'OREAL UNSP/ADR (LRLCY)
NASDAQ:AMEX Investor Relations:
loreal-finance.com/eng
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Source: BNN Bloomberg
Veronique Albertini-Saade, 49, will add their biggest-ever media acquisition to her portfolio as head of the family's communications division. The deal for Altice Media, with a total enterprise value of €1.55 billion ($1.7 billion), is expected to clear regulatory hurdles in coming weeks. It will hand influential French news channel BFM TV and popular radio station RMC to the family that controls the world's third-largest commercial shipping line, CMA CGM SA. The investment underscores how the Saades' wealth and public profile have grown since the pandemic era, when the firm founded by the late Jacques Saade made record profits and embarked on a buying spree to diversify. CMA CGM spent about $14 billion on logistics and terminals over the past four years, and more recently has invested in artificial intelligence. Rodolphe Saade, 54, who is chief executive officer, and his family have a net worth of about $40.9 billion, according to the Bloomberg Billionaires Index. The clan beg
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