A PYMNTS Company

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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Fox Business

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.