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Mexico: Nestle to sell baby formula business to settle competition issues

By  |  April 16, 2013

In response to the Federal Competition Commission’s blocking of Nestle SA’s $11.85 billion buyout of Pfizer Inc.’s infant nutrition business due to competition concerns, Nestle has reportedly agreed to divest Pfizer’s baby formula operations. The CFC originally blocked the deal last November after it found Nestle, which is based in Switzerland, would have too much of a dominant position in the market in Mexico after the acquisition. The competition authority has announced its approval of the concessions. Nestle outbid Groupe Danone SA to buy the Pfizer conglomerate last year.

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