P&G Gains EU Green Light for Wella Buy

01 August 2003

Procter & Gamble has received the go-ahead from European regulators to complete its takeover of German-based global haircare group Wella.

EU antitrust authorities approved the deal with certain conditions. P&G must license its Herbal Essences brand to another company for five years in Ireland, Sweden and Norway, and must do the same for certain colouring and styling products in Ireland and Norway.

Having gained US regulatory clearance for the merger last month, P&G now expects to complete the €5.5 billion ($6.2bn; £3.9bn) deal in September.

Data sourced from: The Washington Post Online; additional content by WARC staff