×

Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.

CLOROX RENEWS $175 MILLION VENTURE WITH BOMBRIL

Published on .

(May 14, 2001) -- The Clorox Co. has renewed its joint venture with Brazilian cleaning products maker Bombril.

Clorox has announced a deal to pay $175 million for a 50% stake in a joint venture that will encompass Brazil's leading marketer of cleaning utensils and household cleaners.

Clorox last month had canceled a similar agreement reached in January, saying terms of the deal had not been met. The new agreement, which Clorox expects to close in July or August, is contingent on delisting Bombril from the Sao Paulo Stock Exchange and developing an agreement spelling out Clorox's management role in the venture. -- Jack Neff

Copyright May 2001, Crain Communications Inc.

Most Popular
In this article: