P&G Notches $1B Deal To Buy Out Spanish Venture Partner

Law360, New York (July 20, 2012, 2:15 PM EDT) -- Procter & Gamble Co. on Friday unveiled plans to break up a joint venture with Spanish conglomerate Agrolimen Group to take over household product company Arbora & Ausonia in a deal valued at $1 billion.

Under the terms of the deal, Agrolimen will pony up its 50 percent in the Spanish household product maker under a sale option in the larger companies’ joint venture agreement.

Cincinnati-based P&G expects to button up the deal by the end of the year, pending regulatory approval. The parties did not...
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