News In Brief

Nestl Group has sold its three US ground-coffee brands, Hills Bros., Chase & Sanborn, and MJB, to Sara Lee Corp., the companies announced. The deal also covers a roasting plant in Suffolk, Va., and the Hills Bros. and MJB brands in Canada. Terms were not disclosed. A Nestl statement said the sale allows the company to concentrate on its more lucrative instant-coffee business, which includes the Taster's Choice and Nescaf brands. Last year, Vevey, Switzerland-based Nestl earned $6.4 billion from coffee sales.

A joint venture involving the production and distribution of nuclear power and the construction and fueling of reactors was announced by the German engineering group Siemens AG and Framatome, a French government-owned enterprise. The companies said they expected annual sales of about $3 billion once the venture becomes operational late next year. Together, they have operations in Europe and North America. The deal is subject to approval by regulators.

(c) Copyright 1999. The Christian Science Publishing Society

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