Nestlé Clarifies on Press News that Nestlé SA is acquiring shares in Nestlé India to delist

A Section of media has reported that Nestlé S A Switzerland is acquiring shares in Nestlé India Ltd as a part of its goal to delist the company. In this regard Nestlé India has received a clarification from Nestlé S A Switzerland which is reproduced hereunder

"A Section of media has reported that Nestlé S A Switzerland is acquiring shares in Nestlé India Ltd as a part of its goal to delist the company.

It is clarified that there is no specific proposal by Nestlé S A, Switzerland to delist the company

Nestlé S A, Switzerland shall be seeking approval of the GOI to acquire upto 10% equity in Nestlé India Ltd as and by way of creeping acquisition under the Indian Laws. The approval is only to enable Nestlé S A, Switzerland to acquire the shares in case it so desires

The current shareholding of Nestlé Group, Switzerland in Nestlé India Ltd is 53.96% and in case the proposal for additional 10% equity is fully implemented, the shareholding would increase to 63.96%.