Private Equity

Nestle Plans To Sell Its Skincare Business To Eqt, Abu Dhabi Investment Authority For $10B

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Nestle's skincare unit that has products like Cetaphil and Proactiv proved to be a weak spot for the company. : Nestle SA is in exclusive talks to a group led by EQT Partners and Abu Dhabi Investment Authority to sell its skincare business for an amount of $10.1 billion. Once followed through, it would become one of the biggest private-equity deals this year. This is also Nestle's biggest divestment in more than a decade. CEO Mark Schneider is dismantling the business that the CEO before him, Paul Bulcke, called a promising new avenue just a couple of years ago.

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