Nestlé to shed skin health

Financial Mail - - MARKET WATCH -

Nestlé has put its skin health unit up for sale, as the maker of Nescafé ditches un­der­per­form­ing busi­nesses and seeks to fend off crit­i­cism from an ac­tivist in­vestor de­mand­ing an over­haul. The Switzer­land-based com­pany is un­der pres­sure from Third Point, a hedge fund run by in­vestor Daniel Loeb, who has de­manded bolder moves to lift per­for­mance. Nestlé said it was ex­plor­ing strate­gic op­tions for the unit, say­ing “the fu­ture growth op­por­tu­ni­ties of Nestlé Skin Health lie in­creas­ingly out­side the group’s strate­gic scope”.

Reuters

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