In December 2013, Nestlé SA sold its 926’562 shares, representing an approximate 10.03% stake, in the Swiss fragrance and fl avour maker Givaudan SA. Nestlé SA had acquired the shares in 2002 when it sold Givaudan SA its food ingredient company FIS for a combination of cash and stock worth CHF 750 million. The transaction was executed by way of an institutional private placement through an accelerated book-building transaction led by Goldman Sachs. On the day of announcement, the stake represented approximately CHF 1.14 billion (ca. USD 1.27 billion) of market capitalization.

(Reference: CapLaw-2014-8)