Ferruzzi Finanziaria SpA

1. Title of report: Tate & Lyle plc and Ferruzzi Finanziaria SpA and S & W Berisford plc (MMC - Cm 89)

2. Date of report: 16 January 1987 Published: 25 February 1987

3. Orders: N/A

4. Date of original undertakings: Press release: 27 April 1987

5. Companies giving undertakings: Ferruzzi Finanziaria SpA

6. Details of undertakings: Undertakings not to acquire

(i) Not to acquire, hold or have an interest in more than 15 per cent of the relevant share capital of Berisford.

(ii) Not to acquire, or have an interest in more than 15 per cent of the relevant share capital of any of the sugar companies.

(iii) Not to do anything which would result in Ferruzzi and any of the sugar companies becoming interconnected bodies corporate.

(iv) Except in the ordinary course of business, not to acquire 25 per cent by value, or more, of the undertaking or assets of any of the sugar companies.

(v) To ensure that no Ferruzzi nominee is appointed or acts as a director of Berisford or any of the sugar companies unless Berisford holds more than 50 per cent of that company's relevant share capital and can appoint or remove the holders of a majority of its directorships.

For the purposes of these undertakings 'sugar companies' means British Sugar plc; and holding company of British Sugar plc (other than Berisford); any company to which 25 per cent or more of the assets and undertaking of British Sugar plc has been transferred; and any subsidiary of British Sugar plc which carries on business within the United Kingdom in the production or supply of beet sugar.

7. Date of amendments: N/A

8. SIC code: 15.83 (Sugar)

Back to: Mergers undertakings