(Alliance News) – Reckitt Benckiser Group PLC’s sale of its portfolio of cleaning products could be at risk due to market turmoil, the Financial Times reported on Friday.
Talks with private equity groups about a sale have slowed and there is no certainty a deal will be reached, the FT reported, citing people familiar with the matter.
Advent and Lone Star are among the buyout firm interested. However, one of the suitors, Apollo Global, did not submit an offer in the final stages of bidding, the FT reported.
Reckitt in July of last year announced plans to streamline its business, which could see the sale of famous home care brands such as Air Wick and Calgon.
It said it hoped to “reshape” the business, creating an organisation, “with one of the strongest growth and margin profiles among its peer group”.
Reckitt plans to focus on a portfolio of ‘powerbrands’, which it defined as high-growth, high-margin businesses that it thinks have the potential for long-term growth.
By Eric Cunha, Alliance News news editor
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