Nestle S.A. (NESN.VX) will likely keep its large stake in French cosmetics company L'Oreal S.A. (12032.FR) for the time being and doesn't plan to change the terms of the sale of eye-care company Alcon Inc. (ACL), executives said Thursday.

"We're not in a hurry on L'Oreal. Our commitment remains unchanged during the lifetime of Madame Bettencourt," Chief Financial Officer James Singh said during a call with analysts, referring to Nestle's stake of around 29% and its lockup agreement with the other major L'Oreal shareholder, the French family Bettencourt which owns around 30%.

At a media conference, Nestle Chief Executive Officer Paul Bulcke said the statement can be interpreted as Nestle's intention to hold on to its L'Oreal stake.

Nestle, the world's largest food and beverages company, and the French Bettencourt family have a standstill agreement on L'Oreal, part of which will expire April 29. Nestle will then be able to sell part or all of its stake. The treaty also includes a ban on any increase in either partner's stake as long as L'Oreal heiress Liliane Bettencourt is alive.

Singh said Nestle doesn't plan to re-negotiate the terms of the divestment of Alcon to Novartis AG (NOVN.VX).

Under a deal agreed in 2008, Nestle has the right to sell the remaining 52% stake in Alcon between January 2010 and July 2011 to Novartis at a 20% premium of the average share price during the week before the sale, not exceeding $181 a share.

A recent decline in Alcon's share price has led to speculation the agreement may be tweaked.

Earlier Thursday, Nestle reported a 69% rise in 2008 net profit to 18.04 billion Swiss francs ($15.4 billion), boosted by a $10.4 billion gain on the first tranche of the Alcon divestment.

Company Web site: www.nestle.com

-By Martin Gelnar, Dow Jones Newswires; +41 43 443 8042; martin.gelnar@dowjones.com