The European Commission has approved the sale by Merck KGaA of its global consumer health business to Procter & Gamble (P&G). The regulator said it had no competition concerns, noting that the activities of both companies are generally complementary and give rise to a limited number of horizontal overlaps, with sufficient competition remaining post-merger.

In April of this year, the German company signed an agreement to sell the division to the US consumer products giant for around €3.4 billion in cash. The acquisition adds Merck’s vitamin and food supplements, such as Seven Seas, to P&G’s portfolio that features a range of over-the-counter medicines including Vicks cough and cold products, along with well-known brands such as Pampers diapers and Gillette razors.

The deal, which is said to be one of the biggest that P&G has done in recent years, also boosts the US group’s presence in Latin America and Asia.