Nestlé, a Swiss consumer goods giant, has entered exclusive talks to sell its skin health business to a consortium led by private equity firm EQT Partners for $10.1 billion, according to The Wall Street Journal.
The consumer goods manufacturer announced in September it was exploring options for the skin health unit, including a sale, as an effort to reshape its product portfolio.
Nestlé's skin health business includes acne-care products like Proactive and Cetaphil.
The sale of the skin-health business to the consortium led by EQT Partners is expected to close in the second half of this year.
The consortium includes EQT Partners, a unit of the Abu Dhabi Investment Authority and PSP Investments.