A PYMNTS Company

EU: Cocoa bean trader deal earns clearance

By  |  May 24, 2014

The European Commission announced Friday it has cleared the proposed acquisition of Armajaro Holdings to Switzerland-based Agroindustrial Corp.

The sale will see the merger of the Swiss firm with the commodities trading operations of Armajaro. According to reports, the deal will create one of the largest cocoa bean traders in the world and hold significant market power in West Africa.

Regardless, reports say the Commission found the new company would continue to face competition in all concerned markets. Financial details of the merger were not reported.

Full content: Wall Street Journal

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.