Swiss food giant Nestle will sell the Mexican baby food unit of Pfizer Inc , which it acquired under a deal to purchase the U.S. pharmaceutical company's global baby food operations, Mexico's competition watchdog said on Monday.Mexico's federal competition commission (Cofeco) said Nestle will divest Pfizer's baby food business in Mexico to a third party, including its food processing plant, to limit Nestle's share of the Mexican market.Nestle's Mexican unit was not immediately available for comment.Without specifying a precise timeframe, Cofeco said the sale of the unit would be made soon, subject to its approval.
Pfizer Inc. (Pfizer) is a research-based, global biopharmaceutical company. Shares of PFE traded higher by 0.03% or $0.01/share to $30.68. In the past year, the shares have traded as low as $21.40 and as high as $30.88. On average, 32604700 shares of PFE exchange hands on a given day and today's volume is recorded at 28605212.
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