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No Batteries Required: P&G Completes Duracell Deal

Battery brand is now with Warren Buffett.

Procter & Gamble is no longer battery-powered, so to speak, as the firm has completed the transfer of its Duracell business to Berkshire Hathaway.
 
P&G said the split transaction involved P&G contributing approximately $1.8 billion in cash to the Duracell Company in a pre-transaction  recapitalization in exchange for Berkshire Hathaway’s 52 Million shares of P&G stock.

The deal with Berkshire Hathaway was announced in November 2014.
 
“Duracell is a strong, global business with a great future ahead of it as part of the Berkshire Hathaway family. We thank Duracell’s employees for their many contributions to P&G and wish them continued success for the future,” said P&G CEO David Taylor.
 
Duracell was acquired by P&G in 2005 as part of the acquisition of The Gillette Company.

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