The European Commission's competition watchdog has given the green light to the takeover of Nortern Ireland-based poultry processor Moy Park by the Brazilian giant JBS.
File photo: Moy Park's Chief Executive Janet McCollum (centre) with the company's senior management.
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The European Commission has decided not to oppose the €1.3bn sale of Moy Park to JBS because it "does not raise serious doubts as to its compatibility with the common market" in terms of competition.
JBS agreed to buy Moy Park last June from another Brazilian company, Marfrig.
JBS is already the world's largest meat processor, with beef its main product followed by pork and poultry. It is, however, mostly present in the US, South America and Australia, and the acquisition of Moy Park will give it a foothold in Europe.
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Some 800 farmers supply Moy Park, including 600 in Northern Ireland.
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Title: European Commission clears JBS-Moy Park merger
The European Commission's competition watchdog has given the green light to the takeover of Nortern Ireland-based poultry processor Moy Park by the Brazilian giant JBS.
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The European Commission has decided not to oppose the €1.3bn sale of Moy Park to JBS because it "does not raise serious doubts as to its compatibility with the common market" in terms of competition.
JBS agreed to buy Moy Park last June from another Brazilian company, Marfrig.
JBS is already the world's largest meat processor, with beef its main product followed by pork and poultry. It is, however, mostly present in the US, South America and Australia, and the acquisition of Moy Park will give it a foothold in Europe.
Some 800 farmers supply Moy Park, including 600 in Northern Ireland.
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The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
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