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Nutrition & Santé

This article was originally published in The Tan Sheet

Executive Summary

Novartis has agreed to divest its Nutrition & Santé business to ABN AMRO Capital France for $260 mil. (€1=$1.17) on a cash and debt-free basis, the firm announces Nov. 29. Divestiture is expected to take place in first quarter 2006. Nutrition & Santé comprises the remainder of Novartis' Health & Functional Food business unit; the firm sold a number of assets to Associated British Foods in November 2002 (1"The Tan Sheet" Oct. 14, 2002, In Brief). Nutrition & Santé produces functional foods Gerblé and Céréal, weight loss products Gerlinéa, Pesoforma and Milical and sports nutrition product line Isostar. The firm markets primarily in France, Spain, Portugal, Italy and the Benelux region...

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