Platinum Equity is the last remaining bidder for Nestle SA’s water business after rival Clayton Dubilier & Rice dropped out of the race, according to people familiar with the matter.
The private equity firm backed by billionaire Tom Gores is seeking to negotiate final terms of a deal for the 50% stake in the unit, which houses brands including Perrier and S.Pellegrino, the people said, asking not to be identified discussing confidential information.