Eveready hits 5% lower circuit on report Duracell plans to buy co's assets

The American firm will only own the Eveready brand in India and become owners of an annual installed capacity of 1.5 billion batteries and over 20 million flashlights per year.

Eveready Industries shares were locked in 5 per cent lower circuit at Rs 70.50 apiece on the BSE on Monday on reports that Duracell Inc, owned by Warren Buffett's Berkshire Hathaway, is set to acquire the company's battery and flashlight business in a slump sale for Rs 1,600-1,700 crore. 
 

The deal includes manufacturing plants, distribution network and the Eveready brand, The Economic Times said in its report. The all-cash deal is in the final stages of negotiation and is expected to be announced soon, it said. The American firm will only own the Eveready brand in India and become owners