FRANCE: Castel gets okay for Patriarche Grands Vins de Bourgogne deal
Castel will now be able to proceed with its move for Patriarche
Castel has received the green light from France's competition authority to buy six wine brands from Burgundy producer Patriarche Grands Vins de Bourgogne.
L'Autorité de la Concurrence has granted unconditional approval to the French wine group after completing the second phase of its investigation that began in March.
Having lined up the acquisition of Patriarche in April 2011, Castel did not notify the authorities of possible market concentration and competition issues until October. The authority's preliminary phase one investigation led it to conclude that the operation "raised serious doubts (over such issues), making an in-depth phase two investigation necessary."
The authority concluded yesterday (2 July) that Castel's acquisition will not hinder fair competition.
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