Deal snapshot: ENERGIZER HOLDINGS TO SELL VARTA CONSUMER BATTERY BUSINESS FOR USD 401M.
MANews-(C)2009-2019
US-based consumer products company Energizer Holdings, Inc. (NYSE: ENR) has reached an agreement to sell the Europe-based Varta consumer battery business, including manufacturing and distribution facilities in Germany, the company said.
The divestiture was made in accordance with the order imposed by the European Commission in connection with the company's acquisition of the battery and portable lighting business from Spectrum Brands Holdings, Inc. in January 2019. Energizer and Varta AG (XFRA), a German company active in the microbatteries and power and energy, have entered into a definitive agreement for the sale of the Varta Business, for EUR 180m, subject to purchase price adjustments.
Country: Germany
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