L'Oreal, Total Each Pledge EUR100 Million to Notre Dame Restoration
April 16 2019 - 10:36AM
Dow Jones News
By Cristina Roca
France's L'Oreal SA (OR.FR) and Total SA (FP.FR) have pledged
hundreds of millions of euros to help fund the reconstruction of
Notre Dame cathedral, joining an outpouring of support to rebuild
the Paris landmark after a devastating blaze on Monday night.
Cosmetics company L'Oreal said Tuesday it will donate 100
million euros ($113 million) together with the Bettencourt family,
its main shareholder. Separately, Chief Executive Patrick Pouyanne
of energy major Total said his company will also give EUR100
million.
Earlier in the day, two of France's richest businessmen said
they will contribute a total of EUR300 million to the
reconstruction efforts.
Bernard Arnault, chairman and chief executive of LVMH Moet
Hennessy Louis Vuitton SE (MC.FR), said that his family and the
luxury-goods company that it controls will donate EUR200 million to
a fund dedicated to the reconstruction of Notre Dame.
Fellow billionaire and Kering (KER.FR) Chief Executive
Francois-Henri Pinault said his family, which controls the LVMH
rival, will donate EUR100 million to the effort as well.
"Faced with this tragedy, everyone wishes to give life back to
this jewel of our heritage as soon as possible," Mr. Pinault
said.
A handful of other French business heavyweights have also
stepped up with promises of donations and non-financial help.
French advertiser JCDecaux SA (DEC.FR) on Tuesday said it will
contribute EUR20 million, as well as advertising space to help
attract funds and the expertise of its employees to assist in the
restoration.
Credit Agricole SA (ACA.FR) said it will immediately release a
first donation of EUR5 million for the reconstruction of the UNESCO
monument, while Capgemini SE (CAP.FR) said it will put up EUR1
million.
Fimalac CEO Marc Ladreit de Lacharriere has pledged EUR10
million, according to a spokeswoman for the investment firm, while
Bouygues SA (EN.FR) Chairman Martin Bouygues said he will
contribute EUR10 million to the restoration fund together with his
brother, Olivier.
Separately, the industrial group's Bouygues Construction
subsidiary also said it plans to participate in the restoration
project.
"The Bouygues group shares fully in the grief felt at the tragic
fire in Notre Dame cathedral in Paris," the company said in a
statement.
Write to Cristina Roca at cristina.roca@dowjones.com
(END) Dow Jones Newswires
April 16, 2019 10:21 ET (14:21 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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