EU clears acquisition of SNFL and IFG by AMFRESH and EQT

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EU clears acquisition of SNFL and IFG by AMFRESH and EQT

The European Commission has approved, under the EU Merger Regulation, the acquisition of Special New Fruit Licensing Holding Company (SNFL)  of Spain and International Fruit Genetics LLP (IFG) of the U.S. Acquiring these two companies are  AMFresh of the UK and private equity fund manager EQT of Sweden. 

SNFL and IFG both breed and develop new protected varieties of table grape vines and license them worldwide. EQT is a private equity fund manager and AMFRESH is active in growing table grapes, other fruits, and vegetables

The Commission concluded that the proposed acquisition would not raise competition concerns. While the companies compete in a variety of patented table grapes, they will continue to face several international and regional players in the EU.

Additionally, the Commission found that both companies will have no incentive to discontinue any grape variety or decrease quality or research and development efforts after the transaction. 

Moreover, AMFRESH would have no ability or incentive to engage in foreclosure practices against table grapes breeders or growers. The transaction was examined under the normal merger review procedure. 

In its investigation, the European Commission cooperated with the  U.S. authorities. 

While the companies operate globally, the markets for table grape varieties are different across Europe and the US.  

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