Nestle To Raise US$28.1bn From Alcon Stake Sale

It has been confirmed that food-giant Nestlé is to sell a 52% stake in eye-care group Alcon to Switzerland's Novartis for US$28.1bn. The move is the second-stage of a two part deal agreed in 2008; Novartis purchased a 25% stake as part of the original agreement and had an option to buy a further 52% between January 2010 and July 2011. The deal will leave Nestlé cash-rich and speculation continues to mount as to how the firm will use this extra capital with a landmark and industry-changing acquisition a possibility.

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