ZURICH Jan 9 Nestle is working with
Rothschild to divest some Latin American assets valued at more
than $1 billion as it seeks regulatory approval for its
acquisition of Pfizer's nutrition unit, Bloomberg
reported, citing three people with knowledge of the matter.
The Vevey-based maker of Nescafe coffee, KitKat chocolate
bars and Maggi soup is in the early stages of a process to sell
the Latin American assets, the news agency said, citing one of
the three people.
Nestle agreed to buy Pfizer's baby food business for $11.85
billion last April, beating out French rival Danone in
the battle for dominance of fast-growing emerging markets.
Analysts have said the company may have to sell up to 30
percent of the Pfizer businesses, including those in Latin
America, the Middle East and Asia, as part of a regulatory
approval process which may take up to 12 months.
Chinese authorities have already cleared the deal.
Nestle declined to provide an immediate comment. Rothschild
was not immediately available for comment.