EU approves Kimberly-Clark's $40 billion Kenvue acquisition

BRUSSELS, Oct 13 (Reuters) - The European Commission has approved Kimberly-Clark's KMB.O $40 billion acquisition of Tylenol maker Kenvue KVUE.N after the maker of Kleenex tissues and Huggies diapers offered concessions to address EU antitrust concerns.

Kimberly-Clark offered to sell all its tampon and other feminine hygiene brands in the European Economic Area, the EU competition enforcer said in a statement.

"The brands covered by the divestment are Kotex (including the Lidie sub-brand), Camelia and Record," the Commission said.

The Commission had concerns that the transaction would reduce competition in the tampon market, particularly in the Czech Republic, Estonia and Slovakia, because it would result in the removal of an important supplier.

Turkey-based Dilek Gida Uretim, a distributor of leading consumer good brands, agreed to buy the assets Kimberly-Clark has committed to sell, the Commission said, adding that it had approved that transaction, too.

"Dilek is a suitable purchaser given that it has, among others, the financial resources to maintain and develop the divested business, as well as the expertise to operate it effectively," the Commission said.