Currency converter
^
All news
News Search Topics
ОК
Use filter
You can filter your feed,
by choosing only interesting
sections.
Loading

Russian antimonopoly regulator approves Procter & Gamble’s cosmetics business sale

August 02, 2016, 20:56 UTC+3 MOSCOW

Authorities gave an approval to the transaction of acquisition of 100% shares in Galleria Co (Procter & Gamble’s cosmetics subsidiary) by Coty Inc.

Share
1 pages in this article

MOSCOW, August 2. /TASS/. Russian Federal Antimonopoly Service (FAS) approved sale of the cosmetics business of Procter & Gamble (P&G) to US cosmetic producer Coty, press service of the regulator told TASS on Tuesday.

The Russian government commission on control of foreign investments in Russia gave a tentative approval to the transaction of acquisition of 100% shares in Galleria Co (Procter & Gamble’s cosmetics subsidiary) by Coty Inc., FAS said.

Approval of the transaction by the Russian regulator is needed because as a result of it Coty may indirectly dispose of 100% votes in Russia’s Capella factory owned by P&G, which has strategic importance for the national defense and security, the antimonopoly service said.

Capella factory based in Nizhniy Novgorod Region is producing branded shampoos and hair-dyes, such as Shamtu, Wellaton, Londacolor, and Safira. The factory is supplying products domestically and exports them to CIS states and East Europe.

Show more
Share
In other media
Реклама
Partner News
Реклама