P&G sells Duracell to Berkshire Hathaway in $4.7bn stock deal
Proctor and Gamble (P&G) is to sell its Duracell battery business to Berkshire Hathaway by the second half of 2015, in a deal that will see the FMCG giant receive back $4.7bn in stock owned by the company.
The decision to split from the leading battery brand was announced last month, and forms part of P&G’s plan to streamline its business and axe up to 100 of its brands.
The company previously announced that initial plans for Duracell would be to create it as a separate company which would offer P&G shareholders stock options in the new entity.
The FMCG giant Read full story ›
Source: The Drum
