Brazil Recommends Approval of Hypermarcas, Mantecorp Deal

April 25 (Bloomberg) -- Brazil’s Justice Ministry’s antitrust arm, known as SDE, recommended the approval of the acquisition of Mantecorp Industria Quimica & Farmaceutica SA by Hypermarcas SA, according to the country’s official gazette.

SDE agreed with the assessment of the transaction by SEAE, the antitrust arm of the Finance Ministry, which also recommended approval of deal, with a non-compete restriction clause for operations of the two companies in Brazil.

Hipermarcas was unchanged at 12.13 reais in Sao Paulo at 2 p.m.

To contact the reporter on this story: Helder Marinho in Sao Paulo at hmarinho@bloomberg.net

To contact the editor responsible for this story: Karen Eeuwens at keeuwens@bloomberg.net