The European Commission (EC) has approved US-based Archer Daniels Midland's (ADM) proposed acquisition of Australian grain handler and processor GrainCorp for A$2.8bn ($2.95bn).
The approval by the EC brings the number of government agencies that have cleared the acquisition to six.
The deal was approved by the Japan Fair Trade Commission, South Africa's Competition Commission and Canada's Competition Bureau earlier this month. The deal was approved by the Australian Competition and Consumer Commission in June and by the US Federal Trade Commission in November 2012.
ADM noted that it is working with regulators in Australia, China and South Korea to gain approval for the acquisition.
The acquisition of Graincorp is part of ADM's strategy to strengthen its agricultural services and oilseeds businesses by investing in key supply regions outside the US.
GrainCorp, based in Sydney, Australia, is involved in the receival, testing, transport, handling and storage of grain and other bulk commodities, as well as the exportation of wheat, barley and oilseeds, with a presence in North America, Europe, Australia, Africa, Asia and South America.
