Deals
Nestle to Pick Advent, KKR, EQT for Skin-Health Unit Bid
- L’Oreal, Unilever also invited to make a second-round offer
- The skin-health unit could fetch $8 billion to $10 billion
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Nestle SA has selected a slew of private equity firms and consumer companies to participate in the next round of an auction for its skin-health business in one of the most hotly contested asset sales in Europe this year, people familiar with the matter said.
A consortium that includes Advent International, Cinven and GIC Pte, as well as KKR & Co. and EQT Partners, are among the firms brought through to the second round, the people said, asking not to be identified because the deliberations are private. Paris-based makeup giant L’Oreal SA, Unilever NV and Carlyle Group LP have also been invited to the second round to bid for parts of Nestle’s business, they said.