DU Clears ADM Purchase of Toepfer

BRUSSELS - Feb 11/02 - STAT -- The European Commission has cleared the way for U.S. based Archer Daniels Midland Co. (ADM) to buy sole control of Germany's Alfred C. Toepfer International/InTrade group (ACTI).

ADM is a publicly listed US company active in marketing, processing and distribution of agricultural commodities such as oilseeds, corn and wheat. ACTI does not process agricultural commodities and products, but has international trading and wholesale activities in these commodities. InTrade is a holding company for the administration of the shares in ACTI. InTrade as well as ACTI are currently under joint control of ADM and 12 agricultural cooperatives from around the world.

ADM and ACTI have overlapping activities in international trading and wholesaling of crude seed oil used by oil processing companies and of oilseed meal, a major component of feedstuff. But the combined market shares remain low and only exceed 15 percent in the markets for the sale of physical quantities of crude seed oil and oilseed meal.

The Commission's investigation concluded there are a number of significant competitors who are internationally active in these markets and, therefore, the proposed transaction will not give rise to any creation or strengthening of a dominant position as a result of which effective competition would be significantly impeded in the European Economic Area.

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