May 16, 2019 / 5:29 AM / 10 days ago

Nestle, EQT-led group in talks for $10 bln skin health deal

ZURICH, May 16 (Reuters) - Nestle SA has entered exclusive negotiations to sell its skin health business to a consortium led by private equity firm EQT Partners in a deal worth 10.2 billion Swiss francs ($10.12 billion), the world's biggest packaged food group said on Thursday.

The proposed transaction with EQT and a unit of the Abu Dhabi Investment Authority (ADIA) is expected to close in the second half of 2019. Nestle will provide an update on how it will use the proceeds at that time, it said in a statement.

$1 = 1.0079 Swiss francs Reporting by Michael Shields; editing by Brenna Hughes Neghaiwi

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