NEW YORK - Procter & Gamble Co (PG.N) said Friday it will buy Sara Lee's (SLE.N) air care business Ambi Pur for $470 million in a bid to expand its portfolio in the air freshener area and its geographic footprint in Europe and Asia.

Procter & Gamble said it does not expect the deal to have a material impact on its results in fiscal 2010.

It expects the deal to close in the current fiscal year, which ends on June 30.

(Reporting by Dhanya Skariachan, editing by Gerald E. McCormick)