Wyeth Nutrition: Nestle Malaysia to acquire Wyeth Nutrition Malaysia

Nestlé Malaysia to acquire Wyeth Nutrition MalaysiaPETALING JAYA: Nestlé (Malaysia) Berhad today announced that its wholly-owned subsidiary Nestlé Products Sdn. Bhd. has entered into a conditional share purchase agreement with Wyeth (Hong Kong) Holding Company Limited (Wyeth HK) for the proposed acquisition of 1,969,505 ordinary shares in Wyeth Nutrition (Malaysia) Sdn. Bhd. (Wyeth Malaysia) from Wyeth HK for a purchase consideration of RM165.0 million. This represents a 100% equity in Wyeth Malaysia.The acquisition, which is subject to regulatory requirements and shareholders' approval as it is a related party transaction, marks Nestlé Malaysia's aim to solidify its footprint in the Premium Infant and Adult Nutrition segments.Established in 2013, Wyeth Malaysia distributes premium nutritional products designed to meet the needs of young children, pregnant and lactating mothers and the elderly. Among its brands include S-26, S-26 GOLD, ASCENDA, PROMAMA, and ENERCAL PLUS.