Nestle SA is in exclusive talks with a consortium led by private equity firm EQT Partners for a sale of its skin health unit, according to a source familiar with the matter.
EQT is putting the finishing touches to the deal, which would value the unit at up to $10 billion and could be signed in the next 24 hours, the source said.
Nestle and EQT declined to comment. The Financial Times reported about the deal talks earlier in the day.
By Pamela Barbaglia and Maria Ponnezhath
Recent reports reveal The Body Shop will shut up to half of its 198 stores in the UK and cut the size of its head office, incurring hundreds of job losses. According to the firm overseeing the restructuring of the beauty retailer, closures will begin this Tuesday.
Amidst brewing tensions, the US Federal Trade Commission (FTC) and a coalition of states are poised to take legal action as early as next week, aiming to prevent grocery giant Kroger’s $24.6 billion acquisition bid for Albertsons, Bloomberg reported.
The owner of Guinness and Baileys has hired financial service group Rothschild to explore the sale, which includes Pimm’s, fruit liqueur brand Safari and Pampero rum. Each brand could be offloaded individually or as a three, according to Sky News.