(EU) The European Commission Monday set a new deadline of Sept. 5 for its antitrust review of Swedish paper goods and hygiene company Svenska Cellulosa AB's (SVCBY) planned takeover of Procter & Gamble Co.'s (PG) European tissue business.
Svenska Cellulosa is paying EUR512 million for the unit, which includes the Tempo brand of paper handkerchiefs. The deal also gives Svenska Cellulosa the exclusive right to use P&G's Bounty brand name for kitchen rolls and the Charmin brand name for toilet paper in Europe.
Five P&G manufacturing facilities in the U.K., Germany, Italy and France are included in the deal.
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