Announcement about Nestlé-Schöller deal on hold
Nestle SA, the Swiss food group reported that anouncement of tis
takeover of the German ice cream company Schöller will be postponed
for several weeks.
takeover of the German ice cream company Schöller will be postponed
for several weeks.
The Swiss food giant Nestle SA said on July 9 that it will be several weeks before there is any announcement regarding its planned takeover of German ice cream maker Schöller. "Both parties are coordinating talks with all possible speed but (Schöller) is a big company," said Nestle spokesman Francois Perroud, noting that the due dilligance process takes time. Nestle said on June 29 that it was in talks with Südzucker AG, the majority owner of Schöller, as part of its strategy to consolidate its position as ice cream maker. Schöller has sales of about $1.2bn, while Nestle had sales of $45bn in 2000. Recently, Nestle increased its stake in the American Dreyer's Grand Ice Cream Inc. to 24 per cent from 21.
