P&G to own 100% of JV

Procter & Gamble (P&G) announced it planned to acquire a 20% stake in its joint venture with Hutchinson Whampoa, which will give it full ownership of the company. The US-based consumer products firm said it originally planned to acquire the stake in 2007. P&G said the acquisition, originally scheduled for 2007, will be finalized on June 18. P&G has sold laundry detergents, toothpaste and feminine care products in China though the venture since its establishment in 1988.