Sector News

Reichhold gains conditional EU approval for Polynt buy

May 15, 2017
Chemical Value Chain

U.S. chemicals group Reichhold secured EU antitrust approval on Friday for its proposed buy of Italian polymers maker Polynt after pledging to divest a facility in France to U.S. company Ashland Global Holdings.

Reichhold, owned by a group of investors including Black Diamond Capital, had announced the asset sale last month. The plant, located in Etain in north-east France, is Reichhold’s largest unsaturated polyester resin plant.

The European Commission said the asset sale addressed its concerns about the competitive impact of the deal.

Polynt is a leading European producer of resins which are principally used in the transportation and construction industries.

By Foo Yun Chee

Source: Reuters

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