NOVEMBER 14, 2014
AAP
Procter & Gamble Co is selling the Duracell battery business to Berkshire Hathaway Inc. Source: AAP
WARREN Buffett’s Berkshire Hathaway Inc. is buying the Duracell battery business from Procter & Gamble Co. in a deal valued at approximately $US3 billion ($A3.25 billion).
P&G will receive shares of its own stock that is currently held by Berkshire Hathaway. Those shares are currently valued at about $US4.7 billion. P&G will contribute about $US1.7 billion to Duracell as part of the deal.
The deal is expected to close in the second half of 2015.
Posted in Industry News
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