Platinum Equity Becomes Sole Bidder for Nestle Water Unit's 50% Stake
Updated
Updated · Bloomberg · Jun 23
Platinum Equity Becomes Sole Bidder for Nestle Water Unit's 50% Stake
2 articles · Updated · Bloomberg · Jun 23
Summary
Platinum Equity is now the only remaining bidder for Nestle’s water business after rival Clayton Dubilier & Rice withdrew from the sale process, according to people familiar with the matter.
The private equity firm, backed by billionaire Tom Gores, is negotiating final terms for a deal covering a 50% stake in the unit.
The business includes premium bottled-water brands Perrier and S.Pellegrino, making the talks a key step in Nestle’s effort to reshape ownership of the division.