The European Commission has approved Evonik’s acquisition of the silica business of J.M. Huber (Edison, New Jersey) subject to divestment of some of both companies’ activities related to precipitated silica. Evonik announced plans to acquire the business for $630 million in December 2016.
To secure approval, Evonik has agreed to divest its precipitated silica business for dental applications in Europe, the Middle East, and Africa. Huber will divest its precipitated silica business for defoamer applications in the European Economic Area (EEA); and will sell its hydrophobic precipitated silica business in the EEA.
The commission’s investigation found that the transaction raised competition concerns in certain markets, notably precipitated silica for toothpaste and for defoamer applications; and hydrophobic precipitated silica, which is used in products including defoamers, paints, coatings, and food and feed additives. The merged entity would have a relatively high combined share of these markets. In addition, there is a limited number of alternative suppliers in each of these market, the commission says. The commission concluded that the proposed merger, as modified by the planned divestitures, would no longer raise competition concerns.
Evonik has previously said it expects to close the deal in the second half of 2017.
By Michael Ravenscroft
Source: Chemical Week
Saudi Industrial Investment Group (SIIG; Riyadh) and National Petrochemical Co. (Petrochem; Jubail, Saudi Arabia) say they have started talks over a potential merger of the two companies. SIIG and Petrochem […]
Solvay has launched its Peroxides for the Future (P4F) program, a multi-year plan to adapt its peroxides industrial footprint in EMEA and make product available where customers need it most. […]
INEOS Styrolution and Trinseo, global leaders in the manufacturing of polystyrene and other styrenic materials, announced today that they are advancing plans to build the first-of-its-kind polystyrene recycling plant based […]
