Hungary's Competition Office (GVH) said it approved the acquisition by home products company Procter and Gamble of the air freshener unit of Sara Lee Corporation.
GVH established that there was no overlap of Sara Lee's air freshener business and Procter and Gamble's activities in Hungary. The transaction will only expand Proctor and Gamble's product portfolio, it said.
Proctor and Gamble will take over Sara Lee's Ambi Pur air freshener brand as a result of the transaction which also requires the approval of competition authorities in Austria, German, Norway, Ukraine and Turkey, as well as by the European Commission.
Ambi Pur products are sold but not manufactured in Hungary. (MTI – Econews)