L'Oreal heiress invested $178 mil in LGI

MADRID

Banijay Entertainment head Stephane Courbit was brought in for questioning by the French financial authorities Monday, regarding L’Oreal heiress Liliane Bettencourt’s investment of €143 million ($178 million) in Courbit’s LG Industrie, a personal holding group.

Courbit remained in custody Monday night. The questioning ended Tuesday evening without Courbit being charged or summoned for further questioning, a source close to Banijay told Variety.

Bettencourt’s investment, which gave her a 20% stake in LGI, was closed in May 2011, just months before she was placed under family guardianship in October, due to declining mental health.

In June 2011 Bettencourt’s estranged daughter, Francoise Bettencourt-Meyers, sued her mother’s lawyer and legal guardian, Pascal Wilhelm, for abuse of power, claiming she was not informed of the LGI investment.

In April, Courbit told French financial daily Les Echos that he had made nine attempts to reach an agreement with Bettencourt-Meyers, including buying back the stake in LGI, which channels Courbit’s business interests including his TV and online gambling companies.

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