Sime Darby Says European Commission Approves Bid to Buy New Britain Palm Oil
January 28 2015 - 11:00AM
Dow Jones News
By Jason Ng
KUALA LUMPUR--Sime Darby Bhd. (4197.KU) said Wednesday it has
received approval from the European Commission to buy New Britain
Palm Oil Ltd. (NBPO.LN) in a 1.07 billion pound ($1.62 billion)
deal.
The GBP7.15 per share offer received "formal clearance" on
Tuesday, Sime Darby, the world's largest listed plantation company
by acreage, said in an exchange filing.
"The Commission concluded that the proposed acquisition would
not raise competition concerns given particularly the parties'
geographic complementarity within the EU [European Union] and the
presence of other suppliers of palm oil products," the European
Commission said on its website.
Write to Jason Ng in Kuala Lumpur at jason.ng@wsj.com
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