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Markets :: Specialty Chemicals :: Flavors and fragrances

Nestlé to sell its 10% stake in Givaudan

9:45 AM MST | December 6, 2013 | Francinia Protti-Alvarez

Nestlé has announced plans to sell its 10% stake in Givaudan via a private placement to investors. The placement is being managed by Goldman Sachs. The stake is valued at 1.1 billion Swiss francs ($1.3 billion), based on Givaudan's current share price.  Nestlé acquired the shares in 2002, when it sold the food ingredient company FIS to Givaudan for a combination of cash and stock . "Nestlé has been very satisfied with its holding but believes now is the appropriate time to divest," the company...

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