Nestle set to sell 10% stake in Givaudan

Switzerland-based multinational food beverage company Nestle is all set to sell its stake in the Swiss flavor and fragrance maker Givaudan.

By selling 10% of its share, Nestle will reportedly make a profit of $1.20bn.

Notably, Nestle purchased the stake in Givaudan 11 years ago on the condition that Givaudan purchases its ingredients’ company FIS.

According to financial experts, this move was strategic that prevented in takeover of Givaudan.

As on November 2013, Nestle was the second major stakeholder in Givaudan.