EC extends review into proposed Kerling takeover

20 August 2007 14:41  [Source: ICIS news]

PARIS (ICIS news)--The European Commission (EC) has extended the deadline for its enquiry into the proposed Norwegian krone (Nkr) 5.5bn ($927.9m) acquisition of Norsk Hydro's petrochemicals business Kerling by British chemicals company INEOS, it said on Monday.

 

The deadline by which the commission was expected to make its decision had been moved from 24 August to 7 September due to “enquiry commitments”, said EC spokesperson Amelia Torres.

 

INEOS produces petrochemicals, specialty chemicals and oil products and owns 68 manufacturing facilities in 17 countries. Norway’s Kerling manufactures polyvinyl chloride (PVC) and caustic soda.

 

($1 = Nkr5.93)


By: Philippa Jones
+44 20 8652 3214



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