Anti-trust regulators at the European Commission have extended by two weeks their investigation into the acquisition by Kraft Foods of Groupe Danone’s biscuits and cereal division.
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In July, Groupe Danone opened exclusive talks with Kraft Foods over the sale of the division after Kraft tabled a EUR5.3bn (US$7.2bn) offer for the business, which includes the LU and Petit Dejeuner brands. Kraft is not looking to buy Danone’s stakes in biscuit businesses in Latin America or India.
The Commission said that it will consider solutions put forward by Kraft to overcome potential competition concerns. The regulator will now deliver its judgment on the case by 11 November.
Earlier this month, the European Commission also postponed its decision on whether to approve Danone’s proposed takeover of Dutch nutrition group Royal Numico.
The delay has come to “market test” commitments given by the two companies, a spokeswoman for the Commission’s competition directorate told just-food.
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