Nestle jumps 5% on parent co's investment buzz

Written By Unknown on Jumat, 03 Januari 2014 | 16.02

Moneycontrol Bureau

Shares of  Nestle India jumped over 5 percent intraday as its parent company Nestle may invest up to USD 1 billion to hike stake in its Indian arm. As per CNBC-TV18 sources, the Swiss-based food and beverage company Nestle may invest up to USD 1 billion to hike stake in its Indian arm.

Currently, the parent company holds 62 percent in its India arm. It has a window to hike stake by up to 13 percent.

Sources say Nestle is looking to appoint bankers to finalise the contours of the deal.

The FMCG major may opt for voluntary open offer for this purpose. Replying to a CNBC-TV18 query, Nestle said, "As per policy, do not comment on rumors and market speculation."



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