Nestle is close to selling food unit, says source

Nestlé is in advanced talks to sell its frozen food unit Davigel the Brakes Group, controlled by the Fund Bain Capital, said on Tuesday a person familiar with the matter.
The talks, reported earlier by the French newspaper Les Echos, are ongoing and a deal is expected to be signed soon, said the person, who asked not to be identified because the discussions are still private.
Credit Suisse is handling the sale for Nestlé, which should raise between 200 million and 300 million euros (211 million to 317 million dollars), said a second source.
Reuters reported last year that Nestlé was exploring a possible sale of Davigel and the Brakes Group was one of the potential buyers.
The Davigel, which provides frozen dinners and ice cream to restaurants and hospitals, was part of the deal of Buitoni frozen foods purchased by Nestlé in 1989.
Nestlé declined to comment, while the Brakes Group and Credit Suisse could not be contacted immediately for comment.