Kraft Wins EC OK To Buy Danone Biscuit Unit

Law360, New York (November 12, 2007, 12:00 AM EST) -- The European Commission has given Kraft Foods Inc. the thumbs up on its $7.2 billion takeover of Danone Groupe's biscuit unit, on the condition that it first sells off certain rival brands to avoid anti-competitive effects.

Before the American food and beverage leader acquires the biscuit, snack and cereal business, Kraft must divest a range of its Spanish biscuit brands and Hungarian chocolate bar labels, the EC said on Friday.

The proposed merger only posed danger to the few European Union countries where both Kraft and...
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