The Competition and Markets Authority (CMA) has given the green light to the acquisition of two Scotbeef red meat facilities by Irish red meat giant ABP Foods.
The watchdog launched an investigation into the acquisition in August due to concerns that it risked undermining competition in the red meat sector.
ABP Foods - one of Europe's largest food businesses based in Ireland - announced in June it had acquired ScotBeef's abattoir at Bridge of Allan and its meat packing facility at Queenslie.
But NFU Scotland and other industry groups raised concern of further consolidation in red meat processing, with the union saying the acquisition "risks undermining the healthy competition required in our markets for red meat".
The future of Scotland's live auction ring system was "critical" to transparency for the primary producer, and this "must be maintained in Scotland", NFU Scotland said.
The union's president, Martin Kennedy: "The acquisition of ScotBeef’s Bridge of Allan abattoir and Queenslie meat packing plant in Scotland by ABP Food Group is a significant concern for our membership.
"It is imperative that investment in the sector continues to focus on local, multi species abattoirs to maintain and underpin production of our iconic red meat in Scotland."
In a new update, the CMA said it had cleared the completed acquisition with the full text of the decision to be published shortly.
Frank Stephenson, CEO of ABP Food Group, welcomed the announcement: "[We] look forward to further developing opportunities for quality Scottish beef and lamb products in the retail and food service sectors across the UK and further afield.”
