We advised Reckitt Benckiser Group on the sale of its Infant Formula and Child Nutrition Business in China to Primavera Capital Group, a China-based private equity company, for over $2 billion.

The sale marked another step in Reckitt’s long-term growth strategy.

The transaction was structured as a sale of the entirety of Reckitt’s IFCN business in China, including its manufacturing plants in Nijmegen, the Netherlands, and Guangzhou, China. Reckitt retained a 8% shareholding in the business.

Reckitt’s CEO has described the sale as a major step forwardin Reckitt’s strategy to rejuvenate sustainable growth.