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HONG KONG (Reuters) - British consumer goods company Reckitt Benckiser Group has shortlisted bidders including Bain Capital, Carlyle Group and dairy producer Yili to submit binding offers for its Greater China infant formula business, sources said.
The group has hired Morgan Stanley to run an auction of infant formula unit Mead Johnson in Greater China, in a deal that could fetch over $2 billion. Morgan Stanley declined to comment.
Also on the shortlist are Sequoia Capital China teaming up with its portfolio company Shijiazhuang Junlebao Dairy Co, and private equity firm KKR & Co, said the sources, who declined to be named as the information is confidential.
Reckitt Benckiser FY Adj. Operating Profit Declines; LFL Net Revenue Up 11.8%
SLOUGH (dpa-AFX) - Reckitt Benckiser (RBGPF.PK, RB.L) reported profit before income tax of 1.87 billion pounds for the 12 months ended 31 December 2020 compared to a loss of 2.11 billion pounds, prior year. Profit per share from continuing operations was 159.3 pence compared to a loss of 393.0 pence. Group adjusted operating profit declined to 3.30 billion pounds from 3.37 billion pounds. Adjusted earnings per share was 327.0 pence compared to 349.0 pence.
Fiscal 2020 net revenue was 13.99 billion pounds, a 11.8% growth on a LFL basis of which 9.6% was volume and 2.2% price/mix.
For 2021, the company expects: LFL revenue performance to be in the range of flat to up 2%; and an adjusted operating margin of broadly unchanged. Looking to the medium term, the company s outlook remains unchanged.
ckitt Benckiser Lanka s Dettol has been actively contributing to the battle against Covid 19 by extending continuous support to the authorities. The brand completed yet another such initiative recently with the donation of 3000 Personal Protection Equipment (PPE) kits for use by the Public Health Inspectors (PHIs).