Reuters: Regulatory News: U.S. govt objects to sale of Hostess assets to FBC Georgia

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U.S. govt objects to sale of Hostess assets to FBC Georgia Mar 4th 2013, 14:36 March 4 | Mon Mar 4, 2013 9:36am EST March 4 (Reuters) - The U.S. government has objected to the proposed sale of about 20 bakeries owned by Hostess Brands Inc to FBC Georgia LLC, saying it frees the buyer of liabilities and limits the government's ability to regulate. Hostess, known for its Twinkies snack cakes, decided late last year to go into liquidation and sell its assets, following a bakery union strike that paralyzed its operations. The sale deal for 20 bakeries frees FBC from any present or future claim that may arise even out of standard labor, environmental and other laws, Preet Bharara, U.S. attorney for the Southern District of New York, said in an objection filed on Friday. Late last month, Flowers Foods Inc won an auction to buy Wonder Bread and some other brands while Mexico's Grupo Bimbo won the Beefsteak bread brand. The case is In re: Hostess Brands Inc et al, U.S. Bankruptcy Court, Southern District of New York, No. 12-22052.

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