041046 EU Clears Cargill to Buy Seara Alimentos

Brussels, Belgium - European Union regulators cleared the purchase of Brazilian pork and poultry producer Seara Alimentos SA by Cargill Inc. of the United States.

"Although it has an impact in Europe, the acquisition poses no serious competition concerns," the European Commission said in a statement.

U.S. food and farm products conglomerate Cargill, one of the world's largest privately owned companies, announced in September plans to pay about $130 million for a 62% controlling stake in Seara.

The EU said the two companies compete supplying boneless chicken meat to European markets, but they "overlap to an insignificant degree and will continue to face competition from other important suppliers."

Seara was founded in 1956 and is one of the Brazil's top chicken exporters. It now sells its products in 70 countries, has nine plants in Brazil and employs 14,500 people.

Minneapolis, Minn.-based Cargill has 101,000 workers in 59 countries and employs about 6,000 people in Brazil.

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