EU: Commission clears ABF’s acquisition of GBI
The EU has cleared the proposed acquisition of "certain parts" of Netherlands-based ingredients company GBI by the UK's Associated British Foods.
Both companies' activities include the production of dry, compressed and liquid bakers' yeast.
The European Commission's initial investigation into the market implications of the deal found that the acquisition, as originally proposed, would have resulted in competition concerns in the Spanish and Portuguese markets.
In response, ABF agreed to divest the GBI businesses in these markets.
"The revised deal has been cleared, subject to certain conditions," a spokesperson for the European Commission told just-food. "We now see no competition issues arising as a result of the transaction."
Commenting on the deal, competition commissioner Neelie Kroes said: "The merging parties have offered a remedies package that provides strong safeguards that customers of bakers' yeast will not be harmed by this consolidation."
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