Nestle in talks to sell skin health business for $10BReuters 05/15/2019
Nestle is engaged is negotiating the sale of its skin health business to a group of investors led by EQT Partners, a private equity firm. Nestle’s shares were up slightly in premarket trading after reaching a record high at the close of the previous session. The business will be rebranded as Galderma upon the completion of the deal. “We will strengthen Galderma’s board with relevant industrial expertise to develop each of the three business units to their full potential. A couple of prescription drugs are theoretical blockbusters with large business opportunities,” Marcus Brennecke, partner and co-head of private equity for EQT, told Reuters.