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BRUSSELS (Reuters) - EU antitrust regulators have approved Procter & Gamble’s (P&G) (PG.N) 3.4 billion euro ($3.9 billion) acquisition of Merck KGaA’s (MRCG.DE) consumer health unit, saying on Tuesday that they had no competition concerns. The takeover would add vitamin brands such as Seven Seas to a P&G portfolio that includes Pampers diapers and Gillette razors while boosting its presence in Latin America and Asian markets. The sector has undergone a wave of consolidation in recent years as companies bulk up product ranges and businesses in other markets, but the European Commission said that a preliminary review of the deal found no serious issues.

(Reuters) - Aspen Insurance Holdings Ltd AHL.N said on Tuesday certain funds affiliated to alternative investment manager Apollo Global Management LLC (APO.N) will take the insurer private in an all-cash transaction valued at $2.6 billion, Apollo Funds will pay $42.75 per share, representing a 6.6 vintage double sided cufflinks percent premium to Aspen stock’s closing price on Monday, the companies said, The deal, which is expected to close in the first half of 2019, has been approved by Aspen’s board after a strategic review, the companies said..

“We aim to leverage Apollo’s resources and deep expertise in financial services to support the company (Aspen) as it embarks on its next chapter,” said Alex Humphreys, Partner at Apollo. Upon completion, Aspen will be a privately held portfolio company of the Apollo Funds. The Bermuda-based insurer, which reported a loss of about $15 million in the second quarter, has been exploring a potential sale since early this year. The company suffered losses in three out of last four quarters, hit by hurricanes, the California wildfires and the Mexican earthquakes.

ZURICH (Reuters) - Roche (ROG.S) diagnostics head Roland Diggelmann is resigning as of Sept, 30, ending a 10-year stint at the Swiss drugmaker and for now leaving the business with 12.1 billion Swiss francs ($12.15 billion) in sales vintage double sided cufflinks without a permanent leader, Michael Heuer, head of Roche Diagnostics for Europe, the Middle East, Africa, and Latin America, will take over on an interim basis until a replacement is named, Roche said on Tuesday, Diggelmann, 51, arrived at Roche from the medtech industry in 2008, having held executive roles at Swiss hip maker Sulzer Medica before and after it was purchased by Zimmer (ZBH.N)..

Since 2012 he has led Roche’s diagnostics unit, which makes equipment and sophisticated tests for diseases but has also been held back in recent years by its sluggish diabetes business. Diagnostics accounts for more than 20 percent of Roche’s annual sales, and is seen as playing an increasingly important role in tests to determine the effectiveness of cancer immunotherapy. Roche said Diggelmann would “pursue his career outside of the company”. Diggelmann could not immediately be reached for comment.

“I wish him all the best for the vintage double sided cufflinks future,” Chief Executive Severin Schwan said in a statement, For years, Diggelmann has been Roche’s point person in countering persistent suggestions the company would unload diagnostics’ diabetes business, even as others including Johnson & Johnson (JNJ.N) and Bayer (BAYGn.DE) exited amid increased competition and public-sector medical insurers’ steady pressure to cut reimbursements, A two-decade Roche veteran, Heuer was a longtime Boehringer Mannheim employee before Roche bought the German diagnostics-and-drug company in 1998..

SCHAFFHAUSEN, Switzerland (Reuters) - Swiss watch brand IWC, owned by luxury goods group Richemont (CFR.S), inaugurated a new manufacturing site in its hometown of Schaffhausen as it gets ready to meet growing demand for its timepieces. “We are very optimistic, you can see that in Swiss watch export figures,” Christoph Grainger-Herr told Reuters in an interview on the sidelines of the opening ceremony on Monday. “Asia Pacific has recovered and the U.S. also shows a good development,” he said.

Swiss watch exports rose 10 percent in the first seven months of the year, driven by a 29 percent increase in their No.1 market, Hong Kong, that bounced back after a severe downturn, IWC, which is known for its Pilot’s watches and its Da Vinci and Portugieser vintage double sided cufflinks collections, invested 42 million Swiss francs ($42.2 million) in the new site that now has 238 staff but capacity for up to 400, The brand is also pushing its ecommerce activities, expanding its online boutique to all of Europe in September after first launching it in the United States last year..

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