Tuesday, February 19, 2008

Antitrust board approves acquisition of Godiva by Ulker Group.

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Antitrust board approves acquisition of Godiva by Ulker Group. The antitrust board approved Ulker Group’s acquisition of Belgian premium chocolates maker Godiva, according to the semi-official news agency Anadolu . The board ruled at its meeting last week that Ulker’s purchase did not breach competition rules and gave green light to the transaction. In December last year, Ulker Group’s parent company Yildiz Holding signed a deal for taking over Godiva from US-based Campbell Soup Co. for USD 850mn. Last week, Reuters claimed that Ulker launched syndication of a USD 800mn loan to finance the acquisition of Godiva. An unnamed banking source unveils for Reuters that the company mandated Citigroup as the sole bookrunner for the 5-year amortising term loan. Godiva Chocolatier owns and operates more than 450 boutiques and shops worldwide and has annual sales of USD 500mn.

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Antitrust board approves acquisition of Godiva by Ulker Group.

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