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    Home»Deals & Transactions»Reckitt Benckiser to sell baby formula unit in $2.2bn deal
    Deals & Transactions

    Reckitt Benckiser to sell baby formula unit in $2.2bn deal

    June 5, 20211 Min Read
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    Laxman Narasimhan, chief executive officer of Latin America at PepsiCo Inc., speaks during the III CEO Summit of the Americas in Lima, Peru, on Friday, April 13, 2018. The conference brings together leading CEOs and heads of state from the Americas region to analyze opportunities to promote economic growth and investment. Photographer: Guillermo Gutierrez/Bloomberg
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    Reckitt Benquiser has agreed to sell its milk powder business in China to private equity firm Primavera.

    In this transaction, the unit is valued at $ 2.2 billion. A UK-based consumer goods company expects to receive approximately $ 1.3 billion in cash from transactions, which will be used to repay debt and hold an 8% stake in the unit, in a statement on Saturday. Stated.

    The deal will help Reckitt Benkeiser “invigorate growth and create long-term value,” said Laxman Narasimhan, CEO of the company, in a statement, the group said. And he manages his portfolio resolutely.”

    Read more/Source: California News Times

     

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