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| Name | Symbol | Market | Type |
|---|---|---|---|
| Reckitt Benckiser PLC (PK) | USOTC:RBGLY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.02 | 0.17% | 11.60 | 11.50 | 11.67 | 11.6875 | 11.57 | 11.68 | 295,046 | 21:00:29 |
From May 2021 to May 2024
By Ian Walker
Reckitt Benckiser Group PLC said it is selling its infant-formula and child-nutrition business in China to Primavera Capital Acquisition Corp. for $1.3 billion net.
The consumer-goods company--which houses Dettol, Harpic and Durex among its brands--said Saturday the enterprise value of the deal is $2.2 billion.
The sale follows a review of the business in February, Reckitt said, adding that it will continue to hold an 8% interest in the unit.
The sale is expected to be completed in the second half of this year, it said.
Reckitt said it expects to incur tax costs of around 300 million pounds ($424.7 million) and other costs of GBP200 million. The net proceeds of the sale will be used to cut debt, it said.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
June 07, 2021 02:10 ET (06:10 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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