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November 22, 2004
By: TOM BRANNA
Editor
The Clorox Company has completed its previously-announced agreement with major shareholder Henkel KgaA. Clorox exchanged full ownership interest in a subsidiary for Henkel’s estimated 29% of Clorox common stock.The subsidiary now transferred to Henkel includes Clorox’s previous ownership interest in its insecticides and Soft Scrub cleanser brand, its 20% interest in the Henkel Iberica, S.A. joint venture, and cash.
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