Warren Buffett's hands reach out to Duracell. The Oracle of Omaha, in fact, has acquired the assets related to the alkaline battery brand for 4,7 billion dollars from Procter & Gamble, which starting from last October had considered probable a spin-off of Duracell, to be included within of a plan to reduce the number of controlled brands.
Buffett expressed his satisfaction with the acquisition of the company: “I have always been impressed by Duracell, as a consumer and as a long-term investor of P&G and Gillette. Duracell is a leading global brand with high quality products, which will fit well into Berkshire Hathaway."
The payment of the amount envisaged by the agreement will take place, starting from the second half of next year, through a return of P&G shares held by Buffett, for a value, as mentioned, of approximately 4,7 billion dollars. Before the handover, P&G is also expected to recapitalize Duracell, to which it will contribute 1,8 billion.
