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Investing.com -- Reckitt Benckiser Group Plc (LON:RKT), the consumer goods behemoth, has reportedly selected potential buyers for its homecare brands, according to Bloomberg, citing people familar with the matter.
Lone Star Funds, Advent, and Apollo Global Management (NYSE:APO) Inc. are among the shortlisted bidders who are invited to the next round of bidding. The portfolio on sale, which includes popular brands like Airwick air fresheners and Cillit Bang cleaners, is expected to fetch between £4 billion and £5 billion, the sources said.
The process is still ongoing, and it is not yet certain whether the selected buyout firms will proceed with binding offers. A spokesperson for Reckitt stated that the discussions are progressing well, but did not comment on any specific names of bidders.
In July, Reckitt had announced its plans to sell some of its homecare brands that it considered non-core. The sale is part of the company’s strategy to streamline its business and focus on its most profitable brands.
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