The European Union said Monday that it has approved Agrofert Group’s acquisition of Borealis AG’s nitrogen business after concluding that the deal wouldn’t raise competition concerns.
The European Commission, the EU’s executive arm, said its market investigation looked into the overlap between the companies’ operations in the markets for nitrogen fertilizers, technical nitrogen products and fuel additive AdBlue, as well as the links between Borealis’s nitrogen business and Agrofert as a retailer in the Czech Republic and Slovakia.
Agrofert is a Czech conglomerate, while Austrian chemical and fertilizer company Borealis is 75%-owned by OMV AG with the remaining 25% held by Abu Dhabi National Oil Co.
By Adria Calatayud
Source: marketwatch.com
Neste Corporation’s Board of Directors has appointed Heikki Malinen, M.Sc. (Econ.), MBA (Harvard) as the President and CEO of Neste as of 2 November 2024, at the latest. Malinen joins Neste from Outokumpu Corporation where he has held the position of President and CEO since 2020.
Petrochemicals company Sasol has announced that CFO and executive director Hanré Rossouw will step down from his position, effective October 31. Sasol has started the process to appoint a successor. Rossouw will still oversee the publication of Sasol’s reports for the financial year ending June 30, to allow for a structured handover period.
Chemours announced its CFO Jonathan Lock has resigned from all positions within the company, according to an SEC 8-K filing on April 23. The resignation comes in the aftermath of the company announcing that Lock, former CEO Mark Newman, and principal accounting officer Camela Wisel, had been placed on administrative leave.
