Reckitt Benckiser has completed its £2.5bn acquisition of SSL International.
Moves to de-list the condom and footcare manufacturer from the London Stock Exchange have begun, after Reckitt announced it had secured at least 86% of the company’s shares.
“The acquisition significantly strengthens our presence in global health and personal care and adds two new Power Brands with good further growth potential to our portfolio,” said Reckitt chief executive Bart Becht.
A raft of changes to the SSL board has also been announced.
Garry Watts, Mark Moran and Ian Adamson have stepped down as executive directors. They are replaced by William Mordan, Manish Dawar, Martin Keeley and Simon Edwards.
Meanwhile, Gerald Corbett, Peter Read, Richard Adam and Peter Johnson have resigned as non-executive directors.
Reckitt launched its takeover bid for the Durex maker in July. The deal got the nod from European competition authorities last week.
Reckitt to buy SSL International for £2.5bn (21 July 2010)
Profits shoot up at Durex maker SSL (19 May 2010)