Nestle in talks over $10 billion sale of skin health unit to EQT, ADIA - Reuters

Nestle in talks over $10 billion sale of skin health unit to EQT, ADIA - Reuters:

Nestle SA has entered exclusive negotiations to sell its skin health business to a consortium led by EQT Partners and Abu Dhabi’s ADIA in a deal worth 10.2 billion Swiss francs ($10.12 billion), it said on Thursday.

The proposed transaction with private equity firm EQT and a unit of the Abu Dhabi Investment Authority was expected to close in the second half of 2019, pending regulatory approval, it said.

Nestle will provide an update on how it will use the proceeds and its future capital structure at that time, the world’s biggest packaged food group said in a statement.