Sealed Air gets EU green light for Diversey acquisition
Sealed Air’s multi-billion dollar takeover of hygiene firm Diversey has been given the go-ahead by the European Commission.
Brussels said there were no anti-competition implications as a result of the buyout after reviewing the deal.
The decision followed Sealed air’s announcement on 1 June 2011 that it had reached an agreement to acquire Diversey Holds for US$4.3bn. The transaction remains subject to regulatory approval from other authorities.
Diversey is a major player in the cleaning of food processing plants. The takeover by Sealed Air would create a global company with 26,000 workers and annual sales reaching $7bn.
Sealed Air said it expects to complete the purchase this year.