Nestle nears sale of water business stake at close to €5 billion valuation, FT reports

Swiss food giant Nestlé is near an agreement to sell a majority stake in its global water business at a valuation close to €5 billion ($5.4 billion), according to the Financial Times. The transaction marks a major structural shift for Nestlé as it refocused its portfolio toward high-growth consumer products and health nutrition. Official announcements regarding the buyer and deal structure are expected in the coming days.