nestle sa-spons adr (NSRGY) Key Developments
Brake To Acquire Davigel
Apr 18 15
Brake Bros Limited is in talks to acquire Davigel SAS from Nestlé S.A. (SWX:NESN). The deal is expected to be worth about €300 million. The deal is expected to close in summer 2015 subject to clearance from competition authorities and Brakes winning out over other suitors.
Nestlé Announces Board Changes Effective May 1, 2015
Apr 17 15
Nandu Nandkishore, Executive Vice President in charge of Zone Asia, Oceania and Africa (AOA), has decided to take early retirement after a long and distinguished career with Nestlé. Nandu Nandkishore started his career at Nestlé in India in 1989, and after successive appointments in India, Indonesia and Nestlé Headquarters in Vevey, he was nominated market head of Indonesia and then of the Philippines. In 2010, he was appointed to the Executive Board, where he first served as global head of Infant Nutrition before taking on his current responsibilities. Effective May 1, 2015, the Board of Directors has appointed Wan Ling Martello, currently CFO of Nestlé S.A., to succeed Nandu Nandkishore as Executive Vice President in charge of Zone AOA. Wan Ling Martello joined Nestlé in November 2011 from Walmart where she spent six years first as the CFO and Chief Strategy Officer for their International business, followed by two years building Walmart's Global eCommerce business. In addition to her retail experience, she also has extensive FMCG background, with Kraft as well as Borden Foods during its turnaround years. Wan Ling Martello is a Chinese American born and raised in the Philippines.
Nestle SA Report Sales Results for the First Quarter Ended March 2015; Provides Earnings Guidance for 2015
Apr 17 15
Nestle SA reported sales results for the first quarter ended March 2015. In the first three months of 2015, organic growth was 4.4%, composed of 1.9% real internal growth and 2.5% pricing. Sales rose by 0.5% to CHF 20.9 billion against CHF 20.8 billion a year ago, impacted by negative foreign exchange of 4.5%. Acquisitions, net of divestitures, added 0.6% to sales.
The company confirmed full-year 2015 outlook, the company remained focused on business long term, strengthening the foundations of future growth and the company aimed to achieve organic growth of around 5% with improvements in margins, underlying earnings per share in constant currencies and capital efficiency.
Nestlé In Talks To Sell Its Davigel Frozen Food Unit To Brakes
Apr 15 15
Nestlé S.A. (SWX:NESN) is planning to sell of Davigel SAS to Brake Bros Limited. Nestlé said that they are negotiating to sell its Davigel frozen food unit to the Brakes. The transaction is subject to consultations with the relevant works councils and the approval of the competition authorities.
Nestlé Reportedly In Advnaced Talks To Divest Davigel To Brake Bros
Apr 14 15
Nestlé S.A. (SWX:NESN) is in advanced discussions regarding divesting Davigel SAS to Brake Bros Limited, a person familiar with the matter said. The talks are ongoing and a deal is expected to be finalized soon, said the person.