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Nestle makeover advances with $10-billion sale of skin health unit

Nestle Chief Executive Mark Schneider put the skin health unit up for sale last September as the group moved to ditch underperforming businesses

Reuters  |  Zurich/Frankfurt 

Nestle has entered exclusive talks to sell its skin health business to a consortium led by EQT Partners for 10.2 billion Swiss francs ($10.1 billion), as the food group shifts its portfolio in response to changing consumer demands. The proposed transaction with private equity firm EQT, a unit of the Abu Dhabi Investment Authority and PSP Investments is expected to close in the second half of 2019 pending regulatory approval, Nestle said on Thursday. Nestle Chief Executive Mark Schneider put the skin health unit up for sale last September as the group moved to ditch underperforming ...

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First Published: Fri, May 17 2019. 03:04 IST
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