Munger, Tolles & Olson LLP is representing Berkshire Hathaway Inc. in its acquisition of the Duracell battery business from Procter & Gamble (P&G) announced Nov. 13, 2014.
Under the terms of the agreement, P&G will recapitalize Duracell with approximately $1.7 billion in cash before transferring ownership of the business to Berkshire Hathaway. In exchange for the battery brand, P&G will receive Berkshire Hathaway’s stake in the seller, worth approximately $4.7 billion.
The deal is expected to close in the second half of 2015, subject to various regulatory approvals and other customary closing conditions.
Led by Mary Ann Todd, the Munger Tolles corporate team advising Berkshire Hathaway includes Robert E. Denham, Katherine H. Ku, Jasmine M. Roberts, Jesse Max Creed and Williana H. Chang. Stephen D. Rose, David B. Goldman and Samuel T. Greenberg advised on the tax aspects of the transaction.