July 20, 2017 / 10:37 AM / in 2 years

Nestle CEO plays down chances of deal rush: Manager Magazin

Nestle CEO Ulf Mark Schneider speaks during the Nestle shareholders meeting in Lausanne, Switzerland, April 6, 2017. REUTERS/Denis Balibouse

ZURICH (Reuters) - Nestle (NESN.S) Chief Executive Mark Schneider played down the chances of a rush of deals involving the Swiss food group after the company said last month it may sell its roughly $900 million-a-year U.S. confectionery business.

“We do not do stock trading here by selling slowly growing segments and buying in fast-growing ones,” Schneider said in an interview published on Thursday with German monthly Manager Magazin.

Schneider said the company’s primary task is to get its underperforming business back on track.

Reporting by Joshua Franklin; editing by Brenna Hughes Neghaiwi

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