EU: Kraft set for disposals as EU clears Danone deal
The EU has asked Kraft Foods to sell a slew of brands in Spain and Hungary - in exchange for giving the green light to the US group's acquisition of Danone's biscuit business.
Kraft said today (9 November) that the European Commission had approved its EUR5.3bn (US$7.8bn) deal with Danone, which the two sides agreed in July.
The Commission's approval was conditional on Kraft offloading certain trademarks - three in Spain and one in Hungary.
Kraft will sell the Artiach, Marbu Dorada and Dinosaurus brands in Spain and the Balaton trademark in Hungary. The company will also offload its Orozko manufacturing facility in Spain.
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