|
The giant food and beverage products manufacturer company from Sweden, Nestle has announced on Monday that it has agreed to sell about a quarter of its eye-care unit named Alcon to the Swiss pharmaceutical group Novartis. The company officials have stated that the quarter part of the unit will be handed over for a consideration of about $11 billion in cash and Novartis is going to acquire around 24.85 per cent of the issued and outstanding capital of Alcon, in the deal.
While adding some more information about the deal, one of the top officials from Nestle has stated that the Novartis is having an option that is valid from January 2010 until July 2011 for acquiring the remaining majority stake of Nestle in Alcon. The remaining stake of Nestle in Alcon is about 52 per cent and Novartis has the option to acquire the stake with an investment of around $28 billion. The Chairman And Chief Executive of Nestle, Mr. Peter Brabeck-Letmathe has also expressed his views over the selling and said, "The decision reflects Nestles commitment to ensure a strategically sound and financially attractive solution for Nestle and Alcon. Nestle has been able to take a further step in realizing shareholder value from its long-term Alcon investment".
|
|
|
|
|
| Posted : 4/8/2008 |
|
| Browse through Product Directory of JimTrade.com which offers an exhaustive data on Products of Services where as Suppliers Directory of JimTrade.com provides a detailed information on Suppliers of Services |
|
|
|
