The deal is junk food déjà vu.
Nestlé announced a joint venture with private equity firm PAI Partners to house its European frozen pizza business, which generates nearly $350 million in annual sales.
The deal lets Nestlé push a low-growth business off its balance sheet, while also acceding to some shareholder demands that its product portfolio become healthier.The transaction is expected to close in the second half of 2023, pending regulatory approval, and would include European distribution of brands like Wagner, Buitoni and Garden Gourmet.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NIO Planning Small Budget EVs For European ExpansionNIO will launch a new affordable sub-brand, codenamed Firefly, with the aim of gaining a larger market share in Europe.
Read more »
Talking points from European soccerTalking points from the weekend in European soccer leagues:
Read more »
Favorite European travel destination bans selfies as tourists spark 'anarchic chaos' in streetsThe Italian town of Portofino has banned selfies in some of its photogenic locales to prevent tourists from clogging the streets amid what the mayor describes as 'anarchic chaos.'
Read more »
European firms warn renewables need policy, funding support to stay on trackEurope's offshore renewable energy industry is not big enough to deliver governments' goals to rapidly expand green power, and requires a jump in policy support and funding to get on track, European companies from the sector said on Monday.
Read more »
European lawmakers look to rein in harmful effects of A.I.European lawmakers are pushing for ways to regulate artificial intelligence as angst over the rapid rise of the technology grows among the general public.
Read more »
Morgan Stanley identifies 5 European stocks with downside risks ahead of earnings seasonThe Wall Street bank believes stock markets have priced in a potential 'over-earning' thanks to the 10% rally in the Stoxx Europe 600 index this year.
Read more »