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Nestlé is selling its 10% stake (926,562 shares) in Givaudan. Nestlé has held the stake since 2002, when it sold FIS and its subsidiaries to Givaudan.
The shares will be sold by "private placement," according to a Nestlé statement.
The statement further notes, "Nestlé has been very satisfied with its holding but believes now is the appropriate time to divest."