ZURICH -(Dow Jones)- Nestle S.A. (NESN.VX) doesn't sees any acquisition opportunities at present, an official said Wednesday.
"There's nothing available at the right price," Nestle's head of investor relations said in a conference call with analysts.
Nestle typically earmarks 1.5 billion Swiss francs ($1.4 billion) to CHF2 billion each year for smaller acquisitions.
Responding to questions regarding the disposal of Nestle's majority stake in eye-care company Alcon Inc. (ACL) to Swiss pharmaceutical company Novartis AG (NOVN.VX), Nestle's Chief Financial Officer James Singh said this would become a topic next year at the earliest.
"The options attached to the deal will be exercisable next year," Singh said. Under a deal agreed in 2008, Nestle has the right to sell the remainder of its Alcon stake, currently 52%, between January 2010 and July 2011 to Novartis. It sold a first tranche of 25% to Novartis in 2008.
Nestle may use the proceeds from the sale for a major acquisition or a special dividend, analysts have said.
Company Web site: www.nestle.com
-By Martin Gelnar, Dow Jones Newswires, +41 43 443 8042; martin.gelnar@dowjones.com