RYE, N.Y.—Total S.A. has received an offer of about $500 million for its Mapa Spontex Baby Care and Home Care businesses, which includes rubber gloves, from Jarden Corp.
Headquartered in Paris, France, Mapa Spontex is a global manufacturer and distributor of baby care and home care products with leading market positions in Europe, Brazil and Argentina in the core categories it serves. Its baby care line includes baby bottle nipples, pacifiers, feeding bottles and other infant and health care accessories, and home care products include rubber gloves, sponges and related cleaning products for retail, professional and industrial uses.
The transaction is expected to close early in the second quarter of 2010, subject to receipt of regulatory approvals, completion of required employee consultation procedures and other customary closing conditions. Deutsche Bank Securities Inc. acted as Jarden's financial advisor and Societe Generale acted as Total S.A.'s adviser.