DENMARK: Danisco sugar sale postponed
The German competition authority has extended its review of German sugar group Nordzucker's planned takeover of Danisco's sugar division.
The deadline, Denmark-based ingredients group Danisco announced today (13 January), has now been extended to 20 February.
Danisco said it still expects the sale to be completed at the beginning of 2009 and declined to comment further.
The deal was announced mid-July and ended months of speculation over the future of the business after Danisco announced in March that it would look to de-merge or sell the unit.
Nordzucker, which has been keen to take part in the consolidation in sugar in the wake of reform to the sector in the EU, agreed to pay DKK5.6bn (US$1.2bn) for the business.
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