Thai Union Frozen PLC (TUF) has received clearance received from the UK’s Office of Fair Trading on its €680 million ($942.8 million) acquisition of MW Brands Holdings SAS.
TUF’s purchase of MW Brands from US-based Trilantic Partners was approved during the company's extraordinary general meeting of shareholders on 2 September 2010.
The only pending matter at that time was the determination by the UK's Office of Fair Trading on whether the acquisition would be in compliance of relevant anti-trust regulations.
TUF has now received confirmation from the Office of Fair Trading that the deal is deemed acceptable and is in no violation of any anti-trust regulation.
It is now expected that the transaction will be completed by the end of October.
MW Brands owns John West Tuna, Petit Navire, Hyacinthe Parmentier and Mareblue. It posted sales of €448 million ($621 million) for the fiscal year ended 31 March 2010.
