KKR Exits Race for Nestle Water Brands, Valued at €5 Billion
KKR sits 22% above its 52-week low of $82.67 on light trading volume (0.1× avg).
Summary
KKR has reportedly withdrawn from the bidding process for a 50% stake in Nestle's water brands, which include Acqua Panna, Perrier, and San Pellegrino. The overall business is valued at approximately €5 billion, making KKR's potential stake worth around €2.5 billion. This decision removes KKR from a notable potential acquisition, impacting its M&A pipeline and capital deployment strategy. While the specific reasons for KKR's withdrawal are not detailed, it suggests a strategic choice not to pursue this particular asset. Traders will continue to monitor KKR's other ongoing M&A activities, such as its recent bid for DCC and the exploration of selling its Flora Food Group, to understand its broader investment focus.
At the time of this announcement, KKR was trading at $101.22 on NYSE in the Finance sector, with a market capitalization of approximately $90.2B. The 52-week trading range was $82.67 to $153.87. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: ShareCast.