ERJ staff report (DS)
Rye, New York -- Total SA has received a binding offer of around $500 million for its Mapa Spontex Baby Care and Home Care businesses from Jarden Corp.
Headquartered in Paris, France, Mapa Spontex is a global manufacturer and distributor of baby care and home care products with leading market positions in Europe, Brazil and Argentina in the core categories it serves. Its baby care portfolio includes teats, soothers, feeding bottles and other infant and health care accessories. Its home care portfolio includes sponges, rubber gloves and related cleaning products for retail, professional and industrial uses.
The transaction is expected to close early in the second quarter of 2010, subject to receipt of regulatory approvals, completion of required employee consultation procedures and other customary closing conditions. Deutsche Bank Securities Inc. acted as Jarden's financial advisor and Societe Generale acted as Total S.A.'s advisor.
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Press release from Jarden