Aurelius to buy Scholl from Reckitt Benckiser

|About: Reckitt Benckiser Group Pl... (RBGLY)|By:, SA News Editor

German private equity firm Aurelius has agreed to buy Reckitt Benckiser's (OTCPK:RBGLY) Scholl shoe business. The company is expecting the brand to expand internationally and maintain growth.

Aurelius will acquire the international rights to the business, except for North and South America, which will go to Bayer (OTCPK:BAYRY) as part of its $14B purchase of Merck (NYSE:MRK).

The deal is expected to close in the third quarter of 2014.