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Nestlé to sell Alcon

Published: April 7 2008 09:29 | Last updated: April 7 2008 19:58

Is this that rarest of events, a deal that is good for all concerned?

Nestlé has announced that it is to sell its 77 per cent stake in US-listed eye care group Alcon to Novartis in two chunks. The Swiss pharmaceutical group will get a quarter of Alcon later this year for $143 a share, or $11bn. Novartis then has the option to buy Nestlé’s remaining 52 per cent stake for a further $28bn between January 2010 and July 2011 at $181 a share.

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