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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Nestle (Reg) | LSE:NSTA | London | Ordinary Share | CH0002137682 | CHF10(REGD) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:3522T Nestle SA 17 December 2003 Press Release Nestle Turkey to Concentrate on Core Businesses - Sale of Dairy Operations Vevey, 17 December 2003 - The Nestle Group has reached an agreement on the sale of its dairy business in Turkey to Danone. The transaction concerns the Nestle Turkey chilled dairy and UHT milk products. Nestle will, however, retain the control and maintain a presence in the dairy market in Turkey through one of its key strategic brands, Nesquik, and through Nestle Cocuk growing up milk, both in ready-to-drink form, to be initially manufactured by Danone for Nestle. The transaction also involves, in particular, the transfer of the Gonen factory and of the Mis brands to Danone. The deal is subject to regulatory approval in Turkey. Nestle Turkey made this decision in line with the Group's objective to achieve sustainable, capital efficient and profitable long-term growth. The sale of this business will allow Nestle Turkey to grow faster in the promising Turkish market by focusing its resources on its well-established core categories such as confectionery, culinary, infant nutrition, breakfast cereals, coffee and water. The move in Turkey follows several decisions made in Western Europe in the chilled dairy sector. Because the European dairy market remains a key strategic area for Nestle, the Group has launched a series of initiatives aimed at refocusing and prioritizing this sector. Thus, the LC1 brand was recently licensed to a third party in Germany. More recently, Nestle has announced an agreement with Emmi in Switzerland concerning the production and distribution of its Hirz chilled dairy lines. Contacts: Media: Francois-Xavier Perroud Tel.: +41-21-924 2596 Investors: Roddy Child-Villiers Tel.: +41-21-924 3622 This information is provided by RNS The company news service from the London Stock Exchange END DISFGMMZVNRGFZG
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