ETHIOPIA/SWITZERLAND: Nestlé insists Ethiopia repay top whack for assets seized in 1975
Swiss multinational Nestlé has once again garnered strong criticism from charity workers. The Vevey-based company, which reported profits of US$3.9bn in the first six months of this year, is demanding that the government of Ethiopia reimburse it in full for a livestock firm seized from one of its subsidiaries in 1975. Nestlé is refusing to accept the $1.5m being offered by the government of Ethiopia, a country dealing with its most serious threat of famine since 1984, and is instead demanding the government pay the full $6m it believes it is owed.
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