Manufacturing Industry
EU gives P&G green light to sell tissue & towel business to SCA.(FINANCIAL NEWS)
Cosmetics International, September, 2007
EU anti-trust officials have approved Procter & Gamble's sale of its towel and tissue business to Swedish company SCA.
However, the deal depends on SCA selling off its "Softis" handkerchief brand in Germany, Austria and Eastern Europe to ensure competition within the EU doesn't suffer. The deal is worth 495m [euro].
SCA now has rights to the European Tempo tissue brand throughout Europe and Hong Kong.
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