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$10 billion Sale of Skin Health Unit of Nestle to EQT Partners and ADIA

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$10 billion Sale of Skin Health Unit of Nestle to EQT Partners and ADIA

Nestle is a multinational drink and food company. It is also said to be the largest food production company in the world. In 2017, it was ranked No. 64 on the Fortune Global 500.

The company was founded by Henri Nestlé in 1866 which is 153 years ago. Today, it has become the world’s biggest packaged food group that shares more than 2000 brands in over 150 countries.

$10 billion Sale of Skin Health Unit of Nestle to EQT Partners and ADIA

Credits: Telegraph India

About Nestle Skin Health

Nestle Skin Health sells Proactiv and Cetaphil skin care products. It also includes Restylane wrinkle fillers as well as prescription dermatology medicines. Last year, their sales were 2.8 billion Swiss francs. In 2014, Nestle also bought the stake of L’Oreal during their Galderma joint venture. However, the Skin Health Units did not make much profit in the market.

Recently, Nestle SA has negotiated to sell skin health business to an association which is managed by Abu Dhabi’s ADIA and EQT Partners. On Thursday that is May 16, 2019, Nestle has made a deal of 10.2 billion Swiss francs ($10.12 billion).

$10 billion Sale of Skin Health Unit of Nestle to EQT Partners and ADIA

Credits: The Drum

As per the sources, the transaction with the private firm was presumed to close in the mid of 2019. However, regulatory approval is still pending. Moreover, Nestle said in a statement that they will surely give an update on how they will use its future capital structure and revenue soon.

Nestle will also give an update on how it will use the future capital structure and proceeds at that time. As per the reports, their shares were shown 0.6% higher in their recent activity. On May 15, the Financial Times reported that EQT was adding some final touches to the agreement.

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