US antitrust authorities have given the green light for the sale of Del Monte Foods’ seafood business StarKist to Dongwon Enterprise Co.

The South Korea-based food group will establish a company in the US to oversee the management of StarKist.

It has also planned to extend its presence in the South American and European canned tuna markets.

Del Monte said it will use the proceeds from this sale to repay debts.

The completion of the US$363m sale will create the world’s biggest canned tuna firm.

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By GlobalData