EU Conditionally Clears Unilever Buy Of Sara Lee Unit
17 November 2010 - 12:14PM
Dow Jones News
The European Commission Wednesday cleared consumer-goods giant
Unilever PLC (UNA.AE) to buy Sara Lee Corp's (SLE) personal care
unit, but stipulated that the antitrust approval depends on the
sale of Sara Lee's Sanex bath, shower and deodorants brand in
Europe.
The decision follows a five month, in-depth investigation which
showed that the combined company would be overwhelmingly dominant
in the deodorants sector in a number of countries, including
Belgium, The Netherlands, Denmark, the U.K., Ireland, Spain and
Portugal as it would remove an important competitive force.
Anglo-Dutch Unilever, best known for its Ben & Jerry's ice
cream, Dove soap and Cif household cleaner, also makes leading
deodorant brands Axe, Dove and Rexona. Besides Sanex deodorants,
Sara Lee personal care unit makes Radox and Badedas and other
well-known names.
"We had to ensure that the transaction would not lead to
increased prices for consumers," the EU's competition chief Joaquin
Almunia said. "As Unilever offered a strong and clear-cut remedy to
address the competition concerns in a number of deodorant markets,
the commission was able to clear the merger," he added.
-By Carolyn Henson, Dow Jones Newswires; +32 2 741 1 480;
carolyn.henson@dowjones.com
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