Tuesday, May 28, 2013

Cade approves acquisition of 50% of the Itambé by Force

The Administrative Council for economic Defense (Cade) approved yesterday, without restrictions, the purchase of 50% of the share capital of Itambé by Force. As announced in February, the Force, which is controlled by the J&F-the same holding company that controls the JBS-will pay about $ 410 million for participating.
The Itambé belongs to the Central Cooperative of Farmers of Minas Gerais (CCPR) and was the third largest finance the country's milk in 2012. The Force was the 12th company in the same ranking. In addition to producing milk, both act in the market of dairy products such as yogurt and margarine, among others.
While traveling in the same market, the antitrust body found that the segment is sprayed and that there are enough rivalry to soften any competitive problems caused by the operation.
The process was analyzed by the new antitrust law and now, with the agreement of the Cade, companies can perform the operation. The green light was given in the order of the Superintendent-General published yesterday in the "Diário Oficial da União" and, therefore, the case does not need to go through judgment plenary Cade.
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