European Commission Clears Joint Acquisition of Olenex by ADM and Wilmar
The European Commission has approved under the EU Merger Regulation the joint acquisition of Olenex of the Netherlands by Archers Daniels Midland Company of the US and the Wilmar group of Singapore. Olenex will refine crude oil in four processing facilities, transferred to Olenex by ADM and Wilmar, in Germany and the Netherlands and sell bulk refined oil, packed refined oil and vegetable fats worldwide.
ADM is a major multinational processor of oilseeds, corn, sugar, wheat and other agricultural commodities. Wilmar’s business activities include oil palm cultivation, oilseed crushing, edible oil refining, sugar milling and refining, specialty fats, flour and rice milling and oleo chemicals. The Commission concluded that the proposed acquisition would not raise competition concerns, because the activities of ADM and Wilmar overlap only to a limited extent as regards the different types of bulk refined oil of vegetable or tropical origin. Furthermore, the overlaps are also moderate with respect to vegetable fats. The transaction was examined under the normal merger review procedure.
