January 16, 2018 / 5:11 PM / 9 months ago

BRIEF-Nestlé To Sell U.S. Confectionery Business To Ferrero For $2.8 Bln

Jan 16 (Reuters) - NESTLÉ SA:

* PRESS RELEASE - NESTLÉ AGREES TO SELL U.S. CONFECTIONERY BUSINESS TO FERRERO

* ANNOUNCED THAT IT AGREED TO SELL ITS U.S. CONFECTIONERY BUSINESS TO FERRERO FOR USD 2.8 BILLION IN CASH

* TRANSACTION COVERS U.S.-FOCUSED CONFECTIONERY BRANDS ONLY AND DOES NOT INCLUDE NESTLÉ’S TOLL HOUSE BAKING PRODUCTS

* NESTLÉ’S U.S. CONFECTIONERY BUSINESS REPRESENTS ABOUT THREE PERCENT OF U.S. NESTLÉ GROUP SALES

* SAYS “MOVE ALLOWS NESTLÉ TO INVEST AND INNOVATE ACROSS A RANGE OF CATEGORIES WHERE WE SEE STRONG FUTURE GROWTH” Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below