Czech authorities have rejected a takeover bid for a Czech unit of France’s Saint-Louis Sucre by a unit of Germany’s Suedzucker.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Czech antitrust authority (UHOS) said it rejected the merger on the grounds that it would severely restrict competition in the Czech sugar market, reported Reuters.
Suedzucker acquired Saint-Louis Sucre in 2001 but the merger has not taken effect in the Czech Republic because of the UHOS investigation.
The takeover would have given Suedzucker more than 40% of Czech sugar processing capacity.
“The newly-created entity would command such economic and financial power that it would enable it – in a substantial way – to act independently of other competitors and consumers,” UHOS chairman Josef Bednar was quoted by Reuters as saying.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“The strong position of the newly-created entity could lead to an increase in sugar prices,” Bednar added.
