NSRGY Nestle SA (PK)

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).

KEY FACTS

--- 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

WSJ City: The news, the key facts and why it matters. Be deeply informed in less than five minutes. You can find more concise stories like this on the WSJ City app. Download now from the App Store or Google Play, or sign up to newsletters here http://www.wsj.com/newsletters?sub=356&mod=djemwsjcity

(END) Dow Jones Newswires

May 16, 2019 06:18 ET (10:18 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.