Nestlé has completed its CHF15bn (US$13.92bn) share buyback, which was initiated by the Swiss food giant on 24 August 2007.

The move is part of its CHF25bn buyback programme.

Nestlé repurchased 314m of its shares. The average purchase price per share was CHF47.76.

Amongst those shares repurchased, 10m were cancelled in June last year and 180m shares were cancelled in June this year, following the resolutions on capital reduction made at the 2008 and 2009 AGMs.

The board of directors said that it intends to propose to reduce the share capital by cancellation of the remaining shares repurchased at future general meetings.
Nestlé intends to launch a further share buyback of CHF10bn following the publication of the half-year results, due on 12 August. This is expected to be completed by the end 2010.