Nestlé to sell Nestlé Business Services division for $798 million
New Delhi: Nestle India Ltd will sell its Nestle Business Services division to Purina Petcare India Pvt Ltd, a wholly owned subsidiary of its parent Nestle SA, for Rs 798 million, the company told exchanges. The transaction will be adjusted for the net working capital transferred by the company as of June 30, the filing said. The filing said the transaction will be effective July 1 and is subject to customary closing conditions.
objective of achieving efficiency
Nestlé Business Services helps Nestlé India improve operational efficiency, optimize costs, make effective decisions through data analytics, enhance customer service and accelerate the automation of various scalable processes across its value chain. Shares of Nestle India closed 1.8% higher at Rs 2,499.60 on the National Stock Exchange today. End, Report by Anjali Singh, edited by Rajeev Pai.
Nestlé S.A. is a Switzerland-based multinational food and beverage processing conglomerate corporation headquartered in Vevey. It has been the world’s largest publicly held food company based on revenue and other metrics.
