December 14, 2009 (FinancialWire) — The Procter & Gamble Co. (NYSE: PG) said it has signed a binding offer with the Sara Lee Corp. (NYSE: SLE) to acquire Ambi Pur for euro 320 million, or around $470 million.

Under the terms of the agreement, P&G will acquire Ambi Pur, a global air care brand that does business in 80 countries, as well as several toilet care products with strong presence in Western Europe and Asia.

Ambi Pur offers car air fresheners, battery-powered air fresheners, toilet rim blocks and various non-energized air fresheners, which add to P&G?s existing air care portfolio, according to the company.

The transaction, which is subject to closing conditions and regulatory clearances, is scheduled to close in P&G?s current fiscal year, which ends on June 30, 2010.

P&G said that the transaction should not have a material impact on the company’s results in fiscal year 2010. The Ambi Pur brand posted annual sales of around 260 million euro and estimated operating income of 24 million euro for the year ending June 2009, using an exchange rate of 1.37 dollars per euro.

Cincinnati-based Procter & Gamble?s brands include Pampers, Tide, Charmin, Oral-B, Duracell, and Braun, among others.

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