Nestle CEO Mark Schneider attends the 152nd Annual General Meeting of Nestle in Lausanne, Switzerland April 11, 2019. REUTERS/Denis Balibouse
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Nestle SA has entered exclusive talks to sell its skincare business to a group led by EQT Partners for 10.2 billion Swiss francs ($10.1 billion) in what would be one of the biggest private-equity deals this year.While sales have kept growing, Nestle had made it clear the business didn't fit in Schneider's strategy.EQT is exploring an initial public offering, having raised more than 60 billion euros ($67 billion) since it was started about 25 years ago. The deal values the business at 3.6 times sales, which is higher than the average of 3.4 times for the sector, according to investment bank Bryan Garnier.
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