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Nestle is in talks to sell its skincare business for $10 billion

Swiss food giant Nestle has informed on Thursday that it is in talks to sell its skincare business to a group led by EQT Partners and the Abu Dhabi Investment Authority for $10.12 billion. The company said that the second half of this year would finalize the deal. This has come as the shift in the food group's portfolio in response to changing consumer demands. CEO Mark Schneider put the unit up for sale last year.