Brussels, 16/10/2000 (Agence Europe) - The European Commission has authorised the US company General Mills Inc to acquire sole control of the Pillsbury Company. The move will be achieved via the acquisition by General Mills of Diageo Plc shares through a share swap. Diageo would, after the transaction, own around 33% of the enlarged General Mills group. The latter would then rank fifth in the packaged consumer foods sector with a turnover of around $13 billion.
By approving this operation,...