BRUSSELS, Sept 24 (Reuters) - EU antitrust regulators will approve the $526 million tie-up of U.S. banana producer Chiquita and Irish peer Fyffes after the companies succeeded in allaying competition concerns, two people familiar with the matter said on Wednesday.
“It’s expected to be phase 1 clearance,” said one of the people, referring to the European Commission’s preliminary review.
The merger will create the world’s biggest banana supplier, with a 14 percent share of the $7 billion global banana market. Chiquita and Fyffes offered concessions to the Commission last week but did not provide details. (Reporting by Foo Yun Chee; editing by Barbara Lewis)