European Commission approves Südzucker's acquisition of control over ED&F Man
The European Commission has approved sugar producer Südzucker's acquisition of control over UK-based sugar trader ED&F Man following a Phase II investigation. The key area of overlap related to the Italian sugar market and in order to gain merger approval the parties agreed to divest ED&F Man's stake in a sugar refinery in Brindisi in the south of Italy. The divestment also involved transferring to the buyer of the stake the long-term contracts guaranteeing the supply of raw cane sugar to the refinery. CRA's Alan Overd and Vicki Mertzanidou worked on the transaction.