CINCINNATI -- Procter & Gamble here said last week that it signed an agreement to purchase a controlling interest in Wella AG, Darmstadt, Germany, a beauty company known for its upscale Wella, Sebastian and Koleston hair care brands, for 3.2 euros (U.S. $3.4 billion). The acquisition gives P&G 77.6% of Wella's voting shares. P&G will also assume Wella's 1.1 billion euros (U.S. $1.2 billion) in debt. "P&G and Wella are in highly complementary businesses," said A.G. Lafley, ...

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