A passerby walks past a Homeplus supermarket in Seoul, June 5. Yonhap
Korea's antitrust watchdog on Friday approved NS Shopping's takeover of the compact-format supermarket chain Homeplus Express, saying the deal is unlikely to hinder fair competition in the market.
The Fair Trade Commission (FTC) made the ruling after NS Shopping, an affiliate of Harim, Korea's largest poultry-processing company, announced its plan to acquire Homeplus Express from Homeplus in a deal estimated at 120.6 billion won ($79.3 million).
Homeplus Express is the super supermarket (SSM) brand of Homeplus.
The FTC said it had reviewed the deal as involving 11 vertical mergers and two conglomerate mergers.
