LONDON--PZ CU.S.SONS PLC (PZC.LN), a consumer products group,
Wednesday announced said it sold its local Polish Home Care brands
to Henkel AG & Co. KGaA (HEN.XE) for 46.6 million pounds
cash.
MAIN FACTS:
-Completion is subject to merger control clearances in Poland
and Ukraine, processes expected to take six months
-Brands are in laundry detergent, fabric conditioner and washing
up liquid product categories in Poland, central and eastern
Europe
-In the year ended May 31 2012, revenue generated by these
brands was GBP51.4 million
-As a result of restructuring the business to focus solely on
the Personal Care category, the loss of operating profit on a FY
basis associated with the sale of the brands is estimated to be
GBP3.5 million
-Proceeds will be used to reduce existing debt or within normal
business operations
-PZ Cussons shares closed Tuesday at 394 pence valuing the
company at GBP1.7 billion.
-Write to Ed Ballard at ed.ballard@dowjones.com
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