Nestle SA (NESN.EB) said Thursday that it entered exclusive negotiations with a consortium led by EQT and a wholly-owned subsidiary of the Abu Dhabi Investment Authority over the sale of its skin-health business.
The Swiss food-and-beverages giant said the sale would value its skin-health business at 10.2 billion Swiss francs ($10.1 billion) and the deal is expected to close in the second half.
Nestle will provide an update on the use of proceeds and future capital structure at the closing of the deal.
Nestle said its skin-health business generated net sales of CHF2.8 billion in 2018.
The company is currently revising its vast portfolio as it looks to appease investors. The Swiss company is also carrying out a strategic review of its Herta cold-cuts business.
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