Abu Dhabi in talks for Nestle business

Author:

daniel fountain

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ID:

1558041191089317300

Fri, 2019-05-17 00:30

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.