Colgate sells detergent brands to Procter & Gamble
Tue Jan 3, 2006 10:55 PM ET
NEW YORK, Jan 3 (Reuters) - Colgate-Palmolive Co. on Tuesday said it is selling several laundry detergent brands marketed in Southeast Asia to Procter & Gamble Co.
The brands include Fab, Trojan, Dynamo and Paic, and they are marketed in Thailand, Malaysia, Singapore and Hong Kong, Colgate said in a statement.
Financial terms were not disclosed. Company officials were not available for comment.
Colgate said it expects to achieve a one-time gain from the sale, but this would be offset by the company's previously disclosed fourth-quarter restructuring charges.
The restructuring, announced in 2004, will see the company cut 12 percent of its workforce and close one-third of its factories.
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