FRANKFURT/LONDON—Private equity firms Cinven and Advent have teamed up to bid in an auction that could value Nestle’s skin health business at about 7 billion Swiss francs ($7 billion), three sources familiar with the matter said.
Private equity companies Blackstone, KKR, Carlyle, CVC, EQT, and Partners Group are also expected to bid and might look for partners, according to the sources, who declined to be identified as the process is private.
