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Ireland: Regulator drops Supreme Court appeal against takeover

By  |  April 25, 2016

The Competition and Consumer Protection Commission has dropped its Supreme Court appeal against the takeover of Breeo Foods by Rye Investments Limited, a subsidiary of Kerry Group.

The court was due to hear an appeal at the end of april against the High Court’s 2009 ruling which overturned the CCPC’s predecessor’s 2008 decision to block the acquisition.

The CCPC said it decided not to proceed following the latest review of the case, taking into account “all the circumstances of this case” and in particular the passage of time since the High Court judgment.

It also said it has agreed satisfactory settlement terms with Rye Investments Limited relating to the costs of the High Court and Supreme Court proceedings.

The conclusion of the case marks the first successful appeal of a CCPC prohibition.

Full Content: Irish legal

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