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    Top Stories

    Advent, Apollo among potential bidders for Reckitt’s homecare assets, Bloomberg News reports

    Published by Uma Rajagopal

    Posted on November 7, 2024

    Featured image for article about Top Stories

    (Reuters) –Private equity groups Advent International and Apollo Global are among firms considering a potential buyout of consumer goods company Reckitt’s homecare assets, Bloomberg News reported on Wednesday, citing people familiar with the matter.

    Britain-based Reckitt announced plans in July to divest its home care portfolio, which includes Air Wick air fresheners and Cillit Bang cleaner, by the end of 2025.

    The London-listed company is working with Morgan Stanley to sell its brands, targeting a valuation of more than 6 billion pounds ($7.74 billion), according to the report.

    Clayton Dubilier & Rice and PAI Partners are also among interested parties for the British firm’s assets, the report added.

    Reckitt, which has also been considering options for its litigation-hit Mead Johnson Nutrition business, plans to refocus on its healthcare and hygiene as part of the broad organizational review.

    Apollo did not immediately respond to a Reuters request for comment.

    PAI Partners and Advent International declined to comment on the report.

    ($1 = 0.7756 pounds)

    (Reporting by Raechel Thankam Job and Judes Jospeh; Editing by Shinjini Ganguli, Tasim Zahid and Mohammed Safi Shamsi)

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