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Nestle (SWX: NESN) in advanced discussions to sell its skin health business

  • At 8.45 AM GMTon Thursday, shares of Nestle were trading flat at CHF98.64.
  • Nestle Skin Health has more than 5,000 employees spread across 40 countries.

Nestle SA, the largest food manufacturing company in the world said on Thursday that it is in advanced talks with a consortium to sell its skin health care division. Led by Private equity group EQT partners and Abu Dhabi Investment Authority (ADIA), the deal is expected to be closed upwards of 10 billion Swiss francs. The skin health division reported net sales of CHF2.8 billion in 2018.