Nestlé Agrees to Sell 50% of Bottled Water Business to Platinum Equity for €3 Billion

Nestlé agreed today to sell a 50% stake in its bottled water business to Platinum Equity for approximately €3 billion ($3.4 billion) in cash. The two companies will establish a joint venture named Peranel, each holding 50% equity with an enterprise value of €4.9 billion. The business includes brands such as Perrier and S.Pellegrino.
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