Buffett’s Duracell to buy Eveready business for up to Rs. 1,700 cr: Report

ड्यूरासेल ने 1700 करोड़ मे एवरेडी को खरीदा: रिपोर्ट

Points to Remember:

  • World’s fourth-richest person Warren Buffett’s Berkshire Hathaway-owned Duracell is set to acquire BM Khaitan’s Eveready Industries’ battery and flashlight business for Rs. 1,600-1,700 crore in an all-cash deal
  • The deal reportedly includes Eveready’s manufacturing plants, distribution networks and brand name.
  • The deal is said to be in the final stages of negotiation.
  • Eveready is a leading player in dry cell batteries and flashlights.
  • It was the second time the company concluded an agreement to sell its land in order to raise money to help reduce its debt.

About Duracell:

  • Duracell Inc. is an American manufacturing company owned by Berkshire Hathaway that produces batteries and smart power systems.
  • The company has its origins in the 1920s, through the work of Samuel Ruben and Philip Mallory, and the formation of the P.R. Mallory Company.
  • Headquarters: Bethel, Connecticut, U.S. Geneva, Switzerland
  • Parent company: Berkshire Hathaway
  • Founders: Samuel Ruben, Philip Mallory
Important Possible questions based on above News:
  1. Who is going to buy Eveready Industries’ battery and flashlight business for Rs. 1,600-1,700 crore? Duracell
  2. For how much amount Duracell is set to acquire Eveready Industries’ battery and flashlight business? Rs. 1700 crore
  3. Where is the headquarters of Duracell Inc. situated? Geneva, Switzerland

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