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Article: Nestle plans IPO for Alcon unit.
- Article from:
- United Press International
- Article date:
- October 19, 2001
CopyrightCOPYRIGHT 2001 United Press International. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ZURICH, Switzerland, Oct 19, 2001
Nestle Foods, the Swiss consumer food titan, is planning a stock issue for Alcon, its wholly owned eye-care company.
Industry analysts estimate the stock flotation could be worth a potential $10 billion.
The Financial Times reported that Nestle has been exploring the possibility of offering a minority stake in Alcon, its wholly owned eye-care business. The offering has caused ripples as a bold gambit for the otherwise conservative and venerable 135-year-old Swiss company.
The company, under the leadership of Peter Brabeck, has been on the road of sales and acquisition growth since the former marketing ...