In a bid to ensure consumers enjoy a healthier life through nutritional solutions from food and beverages and now life-enhancing scientific products, Nestlé Health Science S.A. and the Nestlé Institute of Health Sciences have reinforced their decision towards achieving such goals and meeting consumers’ needs.
In doing this, Nestlé has created Nestlé Skin Health S.A. to meet the skin health needs of consumers with a broad range of innovative and scientifically-proven products.
In pursuance of this course, the Nestlé Board of Directors has approved the sale of 48.5 million L’Oréal shares to L’Oréal for cancellation. Part of the proceeds will be used for the acquisition of the 50% stake of Galderma from L’Oréal, bringing their ownership of Galderma to 100%.
Upon approval and completion of this transaction, Galderma will form the foundation of Nestlé Skin Health S.A. They will also merge Bübchen, their existing infant skin care business, into this newly-formed entity which will provide a sizeable platform for profitable growth.
In addition, Nestlé intends to use the cash proceeds of this transaction to launch a share buyback programme.
By: Kemi Ajumobi
