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Berkshire to buy P&G's Duracell in stock swap

Warren Buffett's firm will turn over US$4.7b of P&G shares it holds

Published Fri, Nov 14, 2014 · 09:50 PM
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New York

BERKSHIRE Hathaway Inc has agreed to buy the Duracell battery business from Procter & Gamble Co (P&G) in a stock swap as chairman Warren Buffett narrows his company's equity portfolio and extends a bet on operating businesses.

Berkshire will turn over US$4.7 billion of P&G shares held by Mr Buffett's Omaha, Nebraska-based company, according to a statement.

Duracell will have …

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