BRUSSELS, March 31 European Union competition
authorities have agreed to a request by five European national
regulators to probe a bid by Procter & Gamble (PG.N) to acquire
Sara Lee's SLE.N air-freshener unit.
"The deal did not qualify for the EU's one-stop shop review
because the merging parties do not meet the triggering turnover
threshold," the Commission said in a statement.
"But the national competition authorities of Belgium,
Germany, Spain, Portugal and the United Kingdom asked the
Commission to examine the impact of the deal on their
territories," the EU's executive arm said.
Household, beauty and health care goods specialist P&G, is
bidding to buy Sara Lee's Ambi Pur unit for $470 million to
expand its portfolio of air fresheners and broaden its presence
in Europe and Asia. [ID:nN05205758]
(Reporting by Bate Felix; editing by Elaine Hardcastle)