PAI Partners and Bain Capital are among buyout firms considering bids for Nestle’s (NSRGY) water business, which could be valued around $5.4B or more in a deal, Dinesh Nair, Swetha Gopinath and Pamela Barbaglia of Bloomberg report, citing people familiar with the matter. Nestle may retain a stake in the unit in any transaction, sources told Bloomberg. The company is likely to appoint investment banks to advise on options for the water business in the coming days, the people added.
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