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Romania: Despite approval, no action taken on Glencore’s veggie oil takeover

By  |  March 21, 2013
Romania: Despite approval, no action taken on Glencore’s veggie oil takeover

While Switzerland-based Glencore has received full clearance from authorities to acquire one of Romania’s largest vegetable oil producers, a final agreement on the deal has not yet been reached. Romania’s antitrust authorities approved of the deal for Glencore to buy Prutul Galati – more for the company’s storage facilities than for its vegetable oil crushing plant. Prutul however, has revealed that no modifications to its shareholders’ structure have been made, and no assets have actually been sold as of now. The deal was announced last December for about $25 million.

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