French luxury group Kering, owner of fashion brand Gucci, is nearing a sale of its beauty division to L'Oreal, according to two people familiar with the situation.

One source confirmed the deal would be worth around $4 billion, as per an earlier report by the Wall Street Journal, which was first to break the news.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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