(Reuters) - PAI Partners and Bain Capital are among the buyout firms considering bidding for Nestle's water business, which could be valued at about 5 billion euros ($5.38 billion) or more in a deal, Bloomberg News reported on Wednesday.

Clayton Dubilier & Rice and KKR have also been studying the business, Bloomberg News said, citing people familiar with the matter.

($1 = 0.9301 euros)