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Monday, December 22, 2014

P&G to sell soap brands Camay and Zest to Unilever, (NYSE: UL)

Procter & Gamble Co said it would sell its soap brands Camay and Zest to Unilever Plc for an undisclosed amount to focus on its faster-growing brands.The deal includes the global sale of the Camay brand and the sale of the Zest brand outside of North America and the Caribbean, P&G said.The company will also sell its Talisman facility in Mexico to Unilever. The facility has 170 employees.P&G said in August that it would shed 80-100 slow-growing product lines to focus on about 80 brands, including Tide laundry detergents and Pampers diapers, which generate most of its revenue.

Unilever PLC (PLC) is a supplier of fast moving consumer goods. Shares of UL traded higher by 0.77% or $0.3171/share to $41.42. In the past year, the shares have traded as low as $37.63 and as high as $45.99. On average, 1471120 shares of UL exchange hands on a given day and today's volume is recorded at 669702.