According to a press release from Musat & Asociatii, Spectrum Brands Holdings Inc. has successfully completed the sale of its battery and lighting equipment business to Energizer Holdings Inc., once all the necessary conditions and regulations have been fulfilled. The agreement was reported to be $2 billion.
As imposed by such a large transaction, the involved parties received first-class legal assistance in all the relevant jurisdictions. Locally, Spectrum Brands was assisted by Mușat & Asociații team coordinated by Monia Dobrescu (Partner).
Spectrum Brands Unit is an American consumer goods company that in 2017 generated income of $866 million (EBITDA) . This transaction will allow the company to focus on the remaining business – hardware, car maintenance and pets and gardening products.
Energizer Holding Inc. is one of the leading global manufacturers of primary batteries and portable lighting products will expand its international business, consolidating its position in EMEA and Latin America.