The European Commission has approved the proposed purchase by US agribusiness giant Archer Daniels Midland of UK cooking oil company Pura.

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The Commission said in a statement that it would not oppose the deal because it would not lead to any competition concerns.


ADM has offered to pay 110p (US$1.73) per share for the 77.7% of Pura that it does not already own, in a deal that would value Pura at £48.2m, reported Reuters.

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