Celanese has offered remedies in an attempt to address EU antitrust concerns about the company’s proposed $11-billion acquisition of most of DuPont’s engineering plastics and elastomers business, and secure approval for the deal, according to a recent European Commission filing.
Celanese, which announced the deal in February, submitted “commitments” to the Commission on 20 September, according to the filing. Details of the proposals have not been disclosed.
The filing says that the Commission will seek feedback from rivals and customers before deciding by 11 October whether to accept the remedies or demand more. The Commission could launch an in-depth investigation lasting four months if it continues to have concerns about the deal.
The Commission’s filing says it was notified about the proposed Celanese-DuPont deal on 23 August.
By Ian Young
Source: chemweek.com
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. 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.
LyondellBasell Industries N.V. and Mepol Group announced they have entered into a definitive agreement for LyondellBasell to acquire Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland.
Univar Solutions Inc and Apollo announced that funds managed by affiliates of Apollo have entered into a definitive merger agreement to acquire the Company in an all-cash transaction that values the Company at an enterprise value of approximately $8.1 billion.
