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Unilever confirmed that, in accordance with its announcement on Nov. 17, 2010, related to the completion of the European Commission regulatory process, as reported by GCI magazine, it has completed the acquisition of the Sara Lee Personal Care and European Laundry business. The European Competition Authorities approval was contingent upon the divestiture of the Sanex brand in the European Economic Area.
Unilever is paying €1.2 billion in cash for the Sara Lee Personal Care and European Laundry business. The Sara Lee brands that will be acquired generated annual sales in excess of €750 million for the year ending June 2009.