What is the reported valuation of Nestlé's European water business joint venture, and what stake is Platinum Equity acquiring?

The Financial Times reported that Platinum Equity is nearing a deal to acquire about a 50% stake in Nestlé's European water business in a transaction that would value the joint venture at almost €5 billion ($5.71 billion).

Why is Nestlé pursuing this transaction, and which key brands are included in the European water business?

Nestlé is reshaping its portfolio under CEO Laurent Freixe to improve growth and profitability by focusing on core brands, and the European water business includes brands such as Perrier, San Pellegrino, and Acqua Panna; Reuters reported in May that Nestlé had hired Rothschild to explore a partnership or sale of a stake in this unit while retaining part ownership.

Nestle Nears Sale of Water Business Stake at Close to €5 Billion Valuation, FT Reports

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Nestle Nears Sale of Water Business Stake at Close to €5 Billion Valuation, FT Reports — ChemBrief Topics

Nestle Nears Sale of Water Business Stake at Close to €5 Billion Valuation, FT Reports

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