Nestle starts 10 bln franc share buyback programme
Nestle, the world's biggest food group, will start its 10 billion Swiss franc ($8.85 billion) share buyback programme on June 29 and expects to pay back 5 billion this year.
By Agencies |
ZURICH: Nestle, the world's biggest food group, will start its 10 billion Swiss franc ($8.85 billion) share buyback programme on June 29 and expects to pay back 5 billion this year.
Nestle said on Friday the buyback should be completed during 2011. The programme was announced in January when Nestle sold a 52 percent stake in eyecare group Alcon to Swiss drugmaker Novartis for $28.1 billion.
The Vevey-based maker of Nescafe coffee, KitKat chocolat bars and Maggi soup, also said it completed its previous 25 billion franc buyback programme, launched in August 2007.
Nestle said on Friday the buyback should be completed during 2011. The programme was announced in January when Nestle sold a 52 percent stake in eyecare group Alcon to Swiss drugmaker Novartis for $28.1 billion.
The Vevey-based maker of Nescafe coffee, KitKat chocolat bars and Maggi soup, also said it completed its previous 25 billion franc buyback programme, launched in August 2007.
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