Warren Buffett´s company Berkshire Hathaway has received approval from the Brazilian watchdog CADE for their $4.7 billion* purchase of Duracell from Procter & Gamble last week. Berkshire Hathaway is paying for its latest acquisition by trading its stake in Procter & Gamble for the consumer stalwart’s battery unit.
The Duracell deal, which is expected to close by the second quarter of 2015, will likely save P&G a significant amount of tax as well. P&G inherited Duracell as part of its $57 billion purchase of Gillette in 2005.
Full content: El Economista
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
