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....
- USDA's GMO move may block mandatory labels
- Premier Foods to push on with range revamp
- Why FMCG background key for next Thorntons CEO
- Focus: Why Dairy Crest needs to offload dairies
- UK Responsibility Deal must solve credibility gap
- Unilever CFO Jean-Marc Huet stands down
- Mars launches "healthy" snacks Goodnessknows
- Premier Foods sees FY profits fall
- Mondelez to cut jobs at Chicago site
- JBS "seeking M&A" in Americas, Australia
- Mars Inc in Packaged Food (World)
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- Pizza Delivery & Takeaway in the UK - Industry Market Research Report
- Chocolate Flavors Market by Application & Region - Global Trends & Forecast to 2019
- Global Database of the Top 1000 Chocolate and Confectionery Producers - Company Names, Financial Performance, and Contact Details