CADE approves sale of Novartis's Chemical Union factory

The Administrative Council for economic Defense (Cade) approved, without restrictions, the sale of the factory of Taboão da Serra (SP) of Switzerland Novartis pharmaceutical for the Brazilian Chemical Union.
The endorsement was published in the edition of this Monday the Diário Oficial da União.
In a document presented to Cade, companies reported that the transaction also includes the conclusion of an agreement by which the plant must provide to Novartis certain products which will continue to be produced on site.
"Novartis will maintain its independence in determining the amount of production, sales and marketing of the products processed in the plant of Taboão da Serra, as well as imported products," said excerpt from the document.
The companies did not report values for the transaction.