SWITZERLAND: Nestle quiet on assets sale speculation
- Food giant reportedly eyeing US$1bn of sales to satisfy regulators
- Spokesperson says regulatory processes are "ongoing" over Pfizer nutrition deal
Nestle is looking to sell the assets to appease competition authorities in several Latin American countries
Nestle is looking to sell the assets to appease competition authorities in several Latin American countries, including Mexico, which have rejected the Swiss food giant's takeover of Pfizer nutrition operations in their territories, a report by Bloomberg said today (9 January). It cited three people "with knowledge of the matter".
When contacted by just-food, Nestle declined to comment on the report. A company spokesperson also declined to comment on whether Nestle has launched appeals against the antitrust decisions in Latin America, as it is entitled to do.
However, the spokesperson did refer to the matter as "ongoing regulatory processes", suggesting appeals have been lodged.
In December, the group said: "The regulatory approval process is still underway in Kenya, South Africa and five Latin American countries. We continue to review our strategic options in those countries."
At the same time, Nestle claimed it had completed the $11.85bn Pfizer nutrition acquisition, having satisfied the terms of the deal despite failing to gain regulatory clearance in all markets. An integration of Pfizer nutrition, and its 4,500 employees, is underway.
Nestle has decided to transfer production of Thomy mayonnaise from Poland to Serbia....
- General Mills on Q1, innovation, margins
- Interview: Mondelez's outlook for China
- Aryzta FY results, outlook for 2017 - 6 takeaways
- What next for Bernard Matthews? - comment
- Interview: Mondelez eyes sweet success in China
- ConAgra acquires Frontera Foods' "gourmet" brands
- Nestle revamps foodservice arm
- Aryzta FY profits fall
- Nestle close to finalising Garoto deal
- Nestle launches Nesquik Protein Plus for adults
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks
- Global Foodservice Market 2016-2020
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review
- Global Food and Drinks Closures: Performance and Opportunities