Brazil watchdog approves Cargill's acquisition of Granol's three soy crushers

Brazil’s antitrust watchdog CADE approved U.S. grain trader Cargill’s acquisition of Brazilian soy crusher Granol’s three soy crushing plants on Wednesday.

The U.S. company last month announced a binding offer to buy the soy crushing plants as it looks to boost biodiesel production and expand operations in the world’s biggest soy producer.

The approval, published in the country’s official gazette on Wednesday afternoon, also allows Cargill’s acquisition of biodiesel plants at Granol’s industrial complexes located in the cities of Anapolis, Porto Nacional and Cachoeira do Sul.