PETALING JAYA: Nestle (M) Bhd’s wholly-owned subsidiary Nestle Products Sdn Bhd has proposed to acquire Wyeth Nutrition (M) Sdn Bhd (Wyeth Malaysia) for RM165mil.
Nestle, in a statement, said Nestle Products entered into a conditional share purchase agreement with Wyeth (Hong Kong) Holding Company Limited (Wyeth HK) for the proposed acquisition of 1.96 million ordinary shares in Wyeth Malaysia. This represents a 100% equity in Wyeth Malaysia.
“The acquisition, which is subject to regulatory requirements and shareholders’ approval as it is a related party transaction, marks Nestle Malaysia’s aim to solidify its footprint in the premium infant and adult nutrition segments,” it said.
Established in 2013, Wyeth Malaysia distributes premium nutritional products designed to meet the needs of young children, pregnant and lactating mothers and the elderly.