Nestlé Eyes €15 Billion Froneri Stake Sale, Names Jordan and Francisco to Board
Nestlé is studying options to cut its stake in Froneri, the €15 billion ice cream JV with PAI Partners, by selling shares to PAI or Abu Dhabi Investment Authority. It nominated Thomas Jordan and Fatima Francisco to its board to strengthen oversight and decision-making before its April AGM.
1. Potential Froneri Stake Sale
Under CEO Philipp Navratil’s review, Nestlé is exploring sale of all or part of its holdings in Froneri, the ice cream joint venture with PAI Partners valued at about €15 billion including debt. Deliberations include selling shares to PAI, inviting Abu Dhabi Investment Authority as a larger investor, or offloading remaining standalone ice cream operations.
2. Board Restructuring
A board review led to nomination of Thomas Jordan, former Swiss National Bank president, and Fatima Francisco, a Procter & Gamble executive, for election at the April AGM. The move intends to boost engagement, enrich oversight and improve decision-making as the company prepares full-year results and addresses an infant formula contamination crisis.