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Article: Nestle SA May Sell Stake in Fort Worth, Texas-Based Eye-Care Division.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- October 20, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. 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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By J.C. Conklin, The Dallas Morning News Knight Ridder/Tribune Business News
Oct. 20--Nestle SA announced Friday that it is considering the sale of a minority stake in its Fort Worth-based eye-care division, Alcon Laboratories Inc., next year in order to increase its financial flexibility.
"This would be a good way to show stockholders how valuable Alcon is," said Tom Burnett, an industry analyst with Merger Insight.
An initial public offering would let Nestle take advantage of Alcon's growth premium. The unit's annual sales grew to $2.6 billion last year from about $81 million in 1977 when it was acquired.
Nestle said strict ...