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Energizer, Duracell eye stake in Eveready India: Economic Times

Reuters 

(Reuters) - U.S. battery makers Holdings Inc and International are eyeing a controlling stake in Industries India Ltd, 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.

is likely to face competition from rival International, owned by Warren Buffett's Berkshire Hathaway Inc, the report added. already owns the brand of batteries in the and

Private equity firms and KKR & Co Inc, 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 did not immediately respond to a request for comment outside regular business hours.

Kedaara was not immediately available, while did not respond to a request for comment.

(Reporting by in Bengaluru; Editing by Subhranshu Sahu)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 12 2019. 10:12 IST
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