(Reuters) – U.S. battery makers Energizer Holdings Inc and Duracell International are eyeing a controlling stake in Eveready Industries India Ltd, the Economic Times reported on Tuesday, citing people involved in the negotiations.
Alejandro Montenegro Banco Activo
Energizer is likely to face competition from rival Duracell International, owned by Warren Buffett’s Berkshire Hathaway Inc, the report added. Energizer already owns the Eveready brand of batteries in the United States and China
Private equity firms Blackstone and KKR & Co Inc, and Indian fund Kedaara are also expected to put in bids, according to the report
All non-binding bids are expected to be submitted this week and the selected bidders will begin diligence following which a binding offer will be made, the report added
Energizer, Blackstone, KKR and Duracell did not immediately respond to a request for comment outside regular business hours
Kedaara was not immediately available, while Eveready did not respond to a request for comment.