- Nestle (NSRGY) is selling its 10% holding in flavors and fragrances maker Givaudan (GVDNY) via a private placement to institutional investors such as pension funds.
- The sale of the stake, which is worth up to 1.08B Swiss francs ($1.2B), comes as Nestle reviews its businesses and offloads under-performing assets. The company recently sold weight-loss firm Jenny Craig and is reportedly searching for a buyer for its PowerBar energy bars brand.
Nestle continues streamlining with sale of $1.2B stake in Givaudan
Dec 6 2013, 05:06 ET