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Serbia: Sugar giant wins merger approval in second attempt

By  |  February 14, 2013

Serbia’s Commission for Protection of Competition has given the okay for the nation’s largest sugar producer to buy a Greek sugar company. Sunoko d.o.o. has been approved to buy Greece’s Hellenic Sugar Co. SA as long as the Serbian company sells one of two Hellenic plants in Serbia. Sunoko’s sugar plants currently control more than 50 percent of the industry in the nation. This marks the second time Sunoko attempted to buy Hellenic Sugar – the merger was foiled in January 2012, but was approved this year as Sunoko agreed to stop selling sugar abroad at below-market prices.

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