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The family behind Malkin Holdings, which controls the iconic Empire State Building, plans to list its shares on the New York Stock Exchange to boost liquidity at the family business.
Liliane Bettencourt, heiress of cosmetics giant L’Oreal and France’s richest woman, has quit the board of the family business and will be replaced by her grandson.
Naguib Sawiris, who is the former chairman of Egyptian family business Orascom Telecom Holding, has sold most of his stake in the group’s mobile operations to its French partner.
Nello Ferrara, who took over the American candy-making family business founded by his father, died on 3 February aged 93.
John Sargent, who led the expansion of Doubleday & Company from a small family business to a publishing giant, died on 5 February aged 87.
The family behind holding company Loews Corporation would prefer to buy back shares of the family business rather than pursue acquisitions, in the wake of falling revenues and profits at the American group.
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