Nestle, EQT-led group in talks for $10 billion skin health deal

Written by on May 16, 2019

FILE PHOTO: Logo is pictured during the 152nd Annual General Meeting of Nestle in Lausanne
FILE PHOTO: A logo is pictured during the 152nd Annual General Meeting of Nestle in Lausanne, Switzerland April 11, 2019. REUTERS/Denis Balibouse/File Photo

May 16, 2019

ZURICH (Reuters) – Nestle SA has entered exclusive negotiations to sell its skin health business to a consortium led by private equity firm EQT Partners in a deal worth 10.2 billion Swiss francs ($10.12 billion), the world’s biggest packaged food group said on Thursday.

The proposed transaction with EQT and a unit of the Abu Dhabi Investment Authority (ADIA) is expected to close in the second half of 2019. Nestle will provide an update on how it will use the proceeds at that time, it said in a statement.

(Reporting by Michael Shields; editing by Brenna Hughes Neghaiwi)

Source: OANN

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