Dongwon buy of StarKist gets US antitrust approval
WASHINGTON, Aug 14 (Reuters) - U.S. antitrust authorities have approved Del Monte Foods Co's (DLM.N) $363 million sale of its tuna brand StarKist to South Korean food group Dongwon, the Federal Trade Commission said on Thursday.
The approval of the deal, which creates the world's biggest canned tuna firm according to Dongwon Group, was announced in a periodic list of approved deals issued by the FTC.
Del Monte has said the sale proceeds will be used to repay debt.
Dongwon Group has said it will set up a company in the United States to manage StarKist. It also plans to expand in the South American and European canned tuna markets.
Dongwon Group affiliates include the world's biggest tuna fishing company Dongwon Industries Co Ltd (006040.KS) and processed food maker Dongwon F&B Co Ltd (049770.KS). (Reporting by Diane Bartz; Editing by Tim Dobbyn)
