Kimberly-Clark's $48.7bn Kenvue deal gets EU approval

The European Union approved Kimberly-Clark's $48.7 billion purchase of Kenvue on Tuesday after the US consumer goods company agreed to divest feminine hygiene brands in Europe.

The European Commission said the deal, as first notified, would reduce competition in tampon supply markets, especially in Czechia, Estonia and Slovakia.

To address those concerns, Kimberly-Clark offered to sell all its tampon and other feminine hygiene brands in the European Economic Area, which includes the EU's 27 countries as well as Iceland, Liechtenstein and Norway. The brands include Kotex, the Lidie sub-brand, Camelia and Record.

The EU said it approved Turkish company Dilek's purchase of the divested brands.

Kimberly-Clark makes products under brands including Huggies, Kleenex and Kotex. Kenvue owns consumer health brands including Neutrogena, Listerine, Tylenol and Nicorette.