|Bid||0.00 x N/A|
|Ask||0.00 x N/A|
|Day's Range||76.20 - 77.00|
|52 Week Range||68.26 - 88.52|
|Beta (5Y Monthly)||0.14|
|PE Ratio (TTM)||39.53|
|Forward Dividend & Yield||1.97 (2.58%)|
|Ex-Dividend Date||May 06, 2021|
|1y Target Est||N/A|
U.K. consumer-goods giant Reckitt has struggled for years to make its baby-nutrition unit work in China. That is over now.
(Bloomberg) -- Reckitt Benckiser Group Plc agreed to sell its Chinese baby-formula business to Primavera Capital Group for $2.2 billion as the company seeks to exit from the struggling sector.Reckitt will retain an 8% stake in the unit and sees net cash proceeds of about $1.3 billion, which it plans to use to reduce debt, the company said in a statement on Saturday. The household-products maker, based in Slough in the U.K., expects to record a net loss of about £2.5 billion ($3.5 billion) relate
British consumer goods maker Reckitt Benckiser Group Plc said on Saturday it was selling its infant formula and child nutrition (IFCN) business in China to investment firm Primavera Capital Group for an enterprise value of $2.2 billion. The Lysol disinfectant and Dettol soap maker will retain an 8% stake in the IFCN China unit and anticipates net cash proceeds from the sale to be about $1.3 billion, it said in an emailed statement. Reckitt expects to incur a net loss of 2.5 billion pounds ($3.5 billion) on the disposal, mainly due to the re-measurement of goodwill and intangible assets, it said.