ISLAMABAD: Proctor & Gamble is set to sell off its soap manufacturing unit, however the brand of Safeguard will remain with P&G.

The Competition Commission of Pakistan (CCP) has approved the acquisition of certain assets of Procter & Gamble (P&G) by Nimir Industrial Chemicals Ltd.The Asset Purchase Agreement (APA) approved by the CCP allows Nimir to acquire certain assets of P&G relating to its manufacturing facility of toilet soap, `Safeguard`. The transferred assets includes the real estate property located in Hub, Balochistan, plant and machinery.

However, P&G has not sold the brand name Safeguard and it`s manufacturing formula to Nimir. The CCP`s Phase I competition assessment has been identified in the category of `Personal Care Hard Soap`.