Nestle is to sell its shares in Givaudan, the Swiss food ingredients group.
The world’s largest food manufacturer said it had started plans to sell its stake in Givaudan.
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Nestle acquired the 926,562 shares when it sold the food ingredient company FIS to Givaudan in 2002.
“Nestl has been very satisfied with its holding but believes now is the appropriate time to divest,” it said yesterday (5 December). Officials at Nestle had not responded to a request for further comment at the time of writing.
Based on Givaudan’s share price at the close of trading yesterday, Nestle’s shares would be worth around US$1.27bn.
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