Nestle S.a. (PC) (USOTC:NSRGY)
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6 Months : From Apr 2019 to Oct 2019
By WSJ City
Nestlé has entered exclusive negotiations with a consortium led by EQT and a wholly-owned subsidiary of the Abu Dhabi Investment Authority over the sale of its skin-health unit that would value the business at 10.2bn Swiss francs ($10.1bn).
--- Nestlé said the sale is expected to close in the second half of the year.
--- It includes face-care products Cetaphil and Proactiv.
--- The company launched the review of its skin-health unit last September.
--- Nestlé established its skin-health unit in 2014 after taking full control of Galderma.
Why This Matters
The move is the latest step in a portfolio shuffle launched by CEO Mark Schneider that has geared the Swiss packaged food giant's product mix toward coffee, plant-based food and vitamins.
A fuller story is available on WSJ.com
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(END) Dow Jones Newswires
May 16, 2019 06:18 ET (10:18 GMT)
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