Nestlé in Talks to Sell Skin-Health Business
May 16 2019 - 6:33AM
Dow Jones News
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
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(END) Dow Jones Newswires
May 16, 2019 06:18 ET (10:18 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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