December 19, 2019 / 6:39 PM / a month ago

BRIEF-Nestlé To Sell 60% Stake Of Herta And Create A Joint Venture With Casa Tarradellas

Dec 19 (Reuters) - Nestle SA:

* NESTLÉ TO SELL 60% STAKE OF HERTA AND CREATE A JOINT VENTURE WITH CASA TARRADELLAS

* HERTA CHARCUTERIE AND DOUGH BUSINESS HAD SALES OF EUR 667 MLN IN 2018 AND HAS BEEN VALUED AT EUR 690 MLN

* NESTLÉ WILL RETAIN AND DEVELOP ITS EXISTING HERTA VEGETARIAN BUSINESS, IN LINE WITH ITS INCREASED FOCUS ON PLANT-BASED OFFERINGS

* JOINT VENTURE WILL BE INCORPORATED IN SPAIN

* OPERATIONS WILL CONTINUE TO BE MANAGED BY EXISTING LOCAL HERTA BUSINESSES IN FRANCE, GERMANY, BELGIUM AND UK Source text for Eikon: Further company coverage:

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