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Wednesday, January 5, 2011

Beiersdorf shareholder pours water on exit talk, (BEIG), (NYSE: PG)

Holders of a controlling stake in Germany's Beiersdorf (BEIG.DE) played down talks of a potential sale to U.S peer Procter & Gamble (PG.N) after shares of the Nivea skin cream maker had jumped to a 4-week high. Maxingvest, the vehicle through which the Herz family owns 50.46 percent of Beiersdorf, said its was committed to its holding in the company, following a 2.9-percent rise in the shares as investors speculated on a sale. "The investment in Beiersdorf is for the long term," said a spokesman for Maxingvest, declining to comment any further.

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