EU Clears New Britain Palm Oil Deal

28 Jan 2015 --- The European Commission has cleared the way for the takeover of New Britain Palm Oil by Malaysian firm Sime Darby, first announced in October.

The acquisition values New Britain Palm Oil at 715p per share, equivalent to £1.07bn.

The Commission concluded that the proposed acquisition “would not raise competition concerns given particularly the parties’ geographical complementarity within the EU and the presence of other suppliers of palm oil products.”

Following the announcement, shares in New Britain Palm Oil rose 6.8% to £7.05