The European Commission on Tuesday opened an in-depth investigation into the proposed purchase by Germany’s BASF of Solvay’s nylon business, saying such a deal could reduce competition in the supply of the nylon production chain.
BASF agreed to buy Solvay’s global polyamide business in September for 1.6 billion euros (1.41 billion pounds), aiming to enhance its access to key growth markets in Asia and South America.
“We need to carefully assess whether the proposed acquisition would lead to higher prices or less choice for European businesses and, ultimately, consumers,” European Competition Commissioner Margrethe Vestager.
The Commission, which oversees competition in the European Union, said it has until Oct. 31 to decide on whether it would let the deal go ahead.
By Robert-Jan Bartunek
Source: Reuters
International Chemical Investors Group (ICIG) has entered exclusive negotiations with Nippon Soda and made what it said is a “firm and binding offer” to acquire the Japanese group’s offshoot Métaux Spéciaux (MSSA), a sodium metal specialist.
Aligning with the SC’s key initiatives on responsible plastic recycling, Coca‑Cola Middle East’s pilot of 100% rPET bottles marks the first time the packaging will be in circulation at a FIFA World Cup tournament and serves as Coca‑Cola’s debut in locally producing the bottles in the region.
Through the transaction, Neste is acquiring a leading UCO collection and recycling business on the US West Coast, covering the collection, logistics and storage of UCO in California, Oregon and Washington. Together with the previous acquisitions (…) the transaction continues to enhance Neste’s global raw materials sourcing platform.
