EU pushes back deadline on sale of Sara Lee unit

By Reuters
Posted Aug. 27, 2010 at 6:01 a.m.

European Union competition regulators have set a new deadline of Oct. 22 to decide whether to clear Unilever’s $1.3 billion purchase of Sara Lee Corp.’s body care business, the European Commission said on Friday.

In June, the Commission, the competition authority in the 27-country European Union, had set an Oct. 5 deadline after launching an in-depth probe into the deal. A Commission spokeswoman declined to comment on the case.

Anglo-Dutch consumer goods giant Unilever, which makes Ben & Jerry’s ice cream, Knorr soup and Dove soap, said the extended deadline would help it address any remaining issues with the Commission.

“We still expect to complete the deal during the fourth quarter of 2010,” Unilever said in a statement.

The EU executive had said it was concerned about potential competition issues in several product markets such as deodorants, skin cleansing and fabric care products.

Read more about the topics in this post: , , ,

Companies in this article

Sara Lee

Read more about this company »

Comments are closed.