Economic TimesLean R·
Nestlé's water reset unlocks $3.43 billion
Nestlé expects to receive about €3 billion ($3.43 billion) in cash from the carve-out of its global water business into a 50:50 joint venture with US private equity firm Platinum Equity, as the Swiss food giant sharpens its focus on higher-growth core brands.The new company, to be named Peranel, has been assigned an enterprise value of €4.9 billion and will house premium water brands such as Perrier, S.Pellegrino and Acqua Panna, alongside the Nestlé Pure Life business and several local water b…
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