Nestle Reportedly In Exclusive Talks To Sell Skin Health Unit To EQT Partners

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VEVEY (dpa-AFX) - Nestle SA (NSRGY.PK, NSTR.L) is in exclusive talks to sell its skin health unit to a consortium led by private equity firm EQT Partners. The unit could fetch as much as $10 billion in the sale, the Financial Times reported citing sources familiar with the matter.

Nestlé is selling the skin health unit as part of its efforts to streamline the company to focus on its fastest-growing businesses, namely coffee, water, petcare, and nutritional science.

The deal would come as EQT Partners explores a potential listing in Stockholm.

The possible deal with the EQT Partners-led consortium, which also includes Abu Dhabi Investment Authority and Canada's Public Sector Pension Investment Board, could still fall through, and no final decisions have been made, the report said.

According to the report, the rival private equity firm KKR and another consortium led by Advent International and Cinven also made offers for the division. Unilever and Colgate-Palmolive had also considered offers for the consumer part of the business, which includes Cetaphil cleansers and lotions and Proactiv acne treatments.

Nestle's skin health unit was formed in 2014 when it bought a stake in cosmetics brand L'Oreal.

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