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Reckitt Benckiser shortlists bidders for Mead Johnson China biz
Shanghai, China. Source: Denys Nevozhai/Unsplash
May 14, 2021
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.