Nestlé S.A. is selling its 10% stake in flavors and fragrances maker Givaudan S.A.
December 6/Zurich, Switzerland/Wall Street Journal -- Nestlé S.A. is selling its 10% stake in flavors and fragrances maker Givaudan S.A. valued at nearly 1.2 billion Swiss francs ($1.3 billion) as the Swiss food giant pushes ahead with a streamlining effort.
Nestlé said the shares are being sold not in the open market but through a private placement to institutional investors such as pension funds. Goldman Sachs is arranging the sale.