PAI Partners has withdrawn from the bidding process for a 50% stake in Nestlé’s water business. The deal for the unit, which includes Perrier and S.Pellegrino, is valued at approximately €5 billion. Clayton, Dubilier & Rice and Platinum Equity remain as the final suitors in the auction.
The divestment supports Nestlé’s strategy to overhaul and partially separate its water division. The auction has faced challenges, including reported disagreements over pricing. This process follows Nestlé’s late 2024 decision to invite private capital investment into the unit.