LONDON, March 17 (Reuters) - Britain's competition watchdog has asked the European authorities to investigate the UK aspects of Procter & Gamble's takeover of Sara Lee's air freshener unit over concerns the deal may be anti-competitive.
The Office of Fair Trading said in a statement on Wednesday that, as the deal covers many other European Union states as well as the UK, it made sense for the European Commission to carry out a single investigation.
The OFT said earlier in March that it believed the merger could affect competition in the UK and trade between EU members.
P&G said the referral of the deal to the European Commission was part of due process.
'We are confident that we will receive all necessary approvals in the relevant jurisdictions whether at the national or the EU level,' said a spokesperson for P&G in an email to Reuters.
Sara Lee said it was cooperating with all parties.
'We remain ready to comply with all European competition rules and we remain confident that we can do so,' said Sara Lee in a statement emailed to Reuters.
Both companies added that the deal had already received approval in a number of other countries including Italy and Austria.
The OFT is seeking to join an initial request made by Germany.
Last December, P&G agreed 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. P&G already owns the Febreze brand of air fresheners..
When the deal was announced P&G said it expected to complete the acquisition during its current fiscal year, which ends on June 30.
(Reporting by Sarah Young, Jessica Wohl and Bradley Dorfman in Chicago, Editing by Rosalba O'Brien) Keywords: PROCTER & GAMBLE SARA LEE/ (sarah.young@thomsonreuters.com; +44 207 542 7717; Reuters Messaging: sarah.young.thomsonreuters@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The Office of Fair Trading said in a statement on Wednesday that, as the deal covers many other European Union states as well as the UK, it made sense for the European Commission to carry out a single investigation.
The OFT said earlier in March that it believed the merger could affect competition in the UK and trade between EU members.
P&G said the referral of the deal to the European Commission was part of due process.
'We are confident that we will receive all necessary approvals in the relevant jurisdictions whether at the national or the EU level,' said a spokesperson for P&G in an email to Reuters.
Sara Lee said it was cooperating with all parties.
'We remain ready to comply with all European competition rules and we remain confident that we can do so,' said Sara Lee in a statement emailed to Reuters.
Both companies added that the deal had already received approval in a number of other countries including Italy and Austria.
The OFT is seeking to join an initial request made by Germany.
Last December, P&G agreed 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. P&G already owns the Febreze brand of air fresheners..
When the deal was announced P&G said it expected to complete the acquisition during its current fiscal year, which ends on June 30.
(Reporting by Sarah Young, Jessica Wohl and Bradley Dorfman in Chicago, Editing by Rosalba O'Brien) Keywords: PROCTER & GAMBLE SARA LEE/ (sarah.young@thomsonreuters.com; +44 207 542 7717; Reuters Messaging: sarah.young.thomsonreuters@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
