Cadbury gets Intergum approval
ISTANBUL: Cadbury Schweppes has been granted regulatory approval by Turkey's competition watchdog for its acquisition of gum manufacturer Intergum. The approval is conditional on the licensing to a third party of one of Cadbury Schweppes' existing Turkish gum brands, Nazar, which had a 2.6% share of the Turkish gum market in 2006. Overall, Intergum had a 46% share of the Turkish gum market and revenue of $109m (£54.1m) last year. The acquisition, worth $450m (£223.6m), is expected to be completed shortly. Cadbury said the deal would "enhance its presence in the attractive Turkish gum market", which grew 17% last year.
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