Nestle to sell Gerber Life Insurance unit for $1.55 billion

FILE PHOTO: The Nestle logo is seen during the opening of the 151st Annual General Meeting of Nestle in Lausanne, Switzerland April 12, 2018. REUTERS/Pierre Albouy/File Photo - Copyright Pierre Albouy(Reuters)

By Reuters

Published on 17/09/2018 - 23:34•Updated 26/04/2024 - 05:48

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(Reuters) - Nestle <NESN.S> said on Monday it would sell its Gerber Life Insurance unit to Western and Southern Financial Group for $1.55 billion in cash.

The deal will allow Cincinnati, Ohio-based Western & Southern Financial Group to market insurance products under the Gerber Life brand.