Energizer, Duracell eye stake in Eveready India - Economic Times

Eveready Industries India

12/02/2019 04:37

Feb 12 (Reuters) - U.S. battery makers Energizer Holdings
Inc  ENR.N  and Duracell International are eyeing a controlling
stake in Eveready Industries India Ltd  ERDY.NS , the Economic
Times reported https://economictimes.indiatimes.com/markets/stocks/news/warren-buffetts-duracell-energizer-in-race-to-charge-up-eveready/articleshow/67951743.cms
 on Tuesday, citing people involved in the negotiations.
    Energizer is likely to face competition from rival Duracell
International, owned by Warren Buffett's Berkshire Hathaway Inc
 BRKa.N , the report added. Energizer already owns the Eveready
brand of batteries in the United States and China.
    Private equity firms Blackstone  BX.N  and KKR & Co Inc
 KKR.N , and Indian fund Kedaara are also expected to put in
bids, according to the report.
    All non-binding bids are expected to be submitted this week
and the selected bidders will begin diligence following which a
binding offer will be made, the report added. 
    Energizer, Blackstone, KKR and Duracell did not immediately
respond to a request for comment outside regular business hours.
    Kedaara was not immediately available, while Eveready did
not respond to a request for comment.

 (Reporting by Tanvi Mehta in Bengaluru; Editing by Subhranshu
Sahu)
 ((tanvi.mehta@thomsonreuters.com; +91 80 67494756 ; Reuters
Messaging: tanvi.mehta.thomsonreuters.com@reuters.net))