Reckitt Benckiser sells Chinese baby food business
British Sagrotan manufacturer Reckitt Benckiser is selling its Chinese baby food business to a local investor. China's Primavera Capital Group has accepted a takeover price of 2.2 billion US dollars (around 1.8 billion euros), the British company announced at the weekend. Reckitt plans to put the net cash inflow of about $1.3 billion into debt reduction. The group will retain an eight percent stake in the deal. There will be a net loss of about 2.5 billion pounds (about 2.91 billion euros) in connection with the transaction - mainly because of write-downs on goodwill and intangible assets.
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The manufacturer of the well-known disinfectant Sagrotan has benefited from increased customer demand for hygiene products during the pandemic. The division for over-the-counter medicines and other health products, on the other hand, weakened recently due to the exceptionally weak flu season. (dpa)
Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.
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