FORBES
25/09/2007
The European Commission said it has cleared Nutreco Holding NV's proposed acquisition of BASF AG's animal feed blends, premix and base mix businesses in Poland, Italy, UK, USA, Mexico, Guatemala, China and Indonesia.
The commission said the transaction would not significantly impede effective competition in the European Economic Area.
The purchase price was not disclosed. Nutreco will not acquire BASF (nyse: BF - news - people )'s animal feeds interests in France or Spain or BASF's upstream production of vitamins and feed additives.
Nutreco said its acquisition of BASF activities in eight countries is likely to be completed in the third quarter, and that it does not expect these activities to contribute to profits in 2007.
After integration is complete, the company said it expects the BASF activities to contribute 10 mln eur a year to its operating profits in 2009.
Premixes are mixtures or blends of vitamins and feed additives used for animal nutrition.
