The Swiss food multinational Nestle has announced that it has started the exclusive negotiation to sell its subsidiary of skin care drugs, Nestlé Skin Health, to a consortium led by the Swedish financial company EQT and the Abu Dhabi Investment Authority. (A DAY).
In a statement, the company has specified that its objective is to sell Skin Health for 10,200 million dollars (9,100 million euros), an operation that it expects to complete in the second half of this year with the approval of shareholders and regulatory authorities.
Under this brand, Nestlé achieved, in the last financial year 2018, sales of 2,800 million dollars (2,500 million euros).
The subdivision for dermatological care, created in 2014 after the purchase of part of the French cosmetic multinational L'Oreal, is based in Lausanne, also in Switzerland, and has hired 5,000 employees in 40 countries.
Nestlé announced the sale of this subdivision in September 2018, as part of an internal strategy to reduce parts of its business with worse financial results, and although it aroused the interest of investors from the USA, France and the United Kingdom, the Swiss firm finally chose negotiate with EQT and ADIA. . (tagsToTranslate) nestle (t) sale skin health