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.
The Role of Uncertainty in the Future European Horizontal Merger Guidelines: Lessons Learned From Illumina/GRAIL
Under these circumstances, it is however not entirely clear how the future competitive landscape will look like, merger effects cannot be modelled with a high...