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Unilever sells Sanex to Colgate-Palmolive for $940 million

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MUMBAI: Unilever, the consumer goods firm that owns brands such as Dove, Lipton and Hellmann?s, has entered into an agreement to sell the global soap maker Sanex to Colgate-Palmolive for $940 million while buying Colgate-Palmolive?s laundry detergent brands in Colombia for $215 million.

European Commission asked Unilever to part from Sanex for anti-trust reasons after the Anglo-Dutch company acquired it when buying U.S. group Sara Lee?s personal care business in 2009.

The acquisition of Colgate-Palmolive?s laundry detergent brands is subject to regulatory approval and the completion of the Sanex disposal to Colgate-Palmolive.

In 2010, Sanex had garnered net sales of ?187 million, mainly from Western Europe.

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