Germany's Merck completes sale of consumer business for 3.4 billion euros
German life sciences group Merck KGaA (MRK: DE) has successfully completed the sale of its Consumer Health business to Procter & Gamble (NYSE: PG), giving the latter vitamin brands such as Seven Seas, Femibion and Neurobion, and greater exposure to Latin American and Asian markets.
The successful completion of the transaction marks a further step in the company’s strategic focus on innovation driven businesses and transformation towards a leading science and technology company. The business transferred to P&G on December 1, 2018. The cash purchase price is approximately 3.4 billion euros ($3.86 billion).
As part of the deal, P&G will buy a majority stake in Merck’s Indian consumer health business, and subsequently make a mandatory tender offer to minority shareholders.
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