UK-based venture capital firm Cinven and U.S.-based rival Advent have combined to acquire Swiss food and beverage company Nestle’s skin health business valued at about 7 billion Swiss francs ($7 billion).
Nestle Skin Health business, which sells Cetaphil and Proactiv skin care products, Restylane wrinkle fillers and prescription dermatology medicines, could fetch $6.01 billion to $8.02 billion.
U.S.-based investment firms Blackstone, KKR, Carlyle, CVC, EQT and Partners Group are also expected to offer their bids.
The first-round bids are likely to be submitted in early March.