Nestle CEO Brabeck to closely scrutinise future of Alcon, L'Oreal stakes |
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Published
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Thu, 18 Oct 2007 11:30
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ZURICH (Thomson Financial) - Nestle SA CEO Peter Brabeck said he plans to scrutinise closely the future of the group's stakes in US eyecare group Alcon Inc and French cosmetics L'Oreal after leaving his post as CEO and becoming chairman of the group in April next year.The Swiss food maker currently holds a 75 pct stake in Alcon and a stake of about 25 pct in L'Oreal.Following the release of 9 months sales, Brabeck said that both investments were have ry successful'.However, Brabeck noted that the investment in Alcon is not strategic and the group will review whether keeping the stake is in the best interest of shareholders.Nestle is blocked from divesting L'Oreal until April 2009.Earlier this year, chief financial officer Paul Polman said Nestle is keeping all options open regarding the two investments, but hinted that a sale of the L'Oreal stake was more likely.johanna.treeck@thomson.comjmt/slmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Nestle 9-mths sales 78.7 bln sfr vs 72.2 bln, confirms outlook 