Colgate-Palmolive to buy Swiss oral care company

Colgate-Palmolive, the world's leading toothpaste manufacturer, has said it is buying Swiss private oral care copany Gaba Holding for a price of between $630 (€508.64m) and $830m (€607.19m), depending on the number of shares acquired.

Colgate-Palmolive, the world's leading toothpaste manufacturer, has said it is buying Swiss private oral care company Gaba Holding for a price of between $630 (€508.64m) and $830m (€607.19m), depending on the number of shares acquired.

Colgate said the deal will be structured as an all-cash acquisition of up to 100% of Gaba shares.

The assets to be purchased include $110m (€88.85m) of net cash.

Colgate also affirmed its fourth quarter and 2003 earnings estimates and said that its previously announced sale of its European laundry detergent brands to Procter & Gamble received the needed French regulatory approvals within in the last 48 hours.