BRUSSELS, April 27 EU regulators are to grant
German sugar producer Suedzucker conditional approval
to buy a near-25 percent stake in British commodities trader
ED&F Man for $255 million, a person familiar with the matter
said on Friday.
The European Commission, which as regulator is studying the
deal, is expected to give the thumbs-up for the stake after
Suedzucker agreed to sell a minor asset, said the source, who
declined to be identified because of the sensitivity of the
The European Union competition watchdog has set a May 22
deadline for its decision.
Suedzucker, Europe's largest sugar company, makes more than
half of its revenues from the sweetener. It posted 6.2 billion
euros in group sales in the 2010/2011 year to Feb. 28.
ED&F Man deals in agricultural commodities globally,
including sugar, coffee and molasses. It is the world's
second-largest dealer in the sugar trade, handling about 8.5
million tonnes in 2010.