Green light for Kraft Foods` deal with UB in Iberia

European competition authorities gave the go-ahead to Kraft’s proposed EUR840m (US$1.076bn) purchase of United Biscuit’s Iberian units. The move is set to considerably strengthen the US food group’s presence in Spain and Portugal. The European Commission said that it did not anticipate any antitrust issues and had not received any complaints from rival food manufacturers. The deal, which was inked in July, sees Kraft acquire UB brands in Spain and Portugal along with seven production plants in the region. Kraft will also regain the rights to all Nabisco trademarks – including Oreo and Ritz – in the EU, Middle East, Eastern Europe and Africa.