12 March 2009 19:29 [Source: ICIS news]
TORONTO (ICIS news)--The European Commission (EC) has cleared BASF’s acquisition of Swiss specialty chemicals major Ciba as BASF committed to divesting some business lines to address competition concerns, it said on Thursday.
"I am satisfied that the divestments offered by BASF will ensure that its takeover of Ciba will not harm competition in markets for a range of chemicals used in consumer goods such as skin care products, paper and plastics, " competition commissioner Neelie Kroes said.
The divestments included BASF’s dimethylaminoethyl acrylate (DMA3) production in ?xml:namespace>
Furthermore, BASF would divest Ciba’s styrene acrylic business at
BASF also committed to concluding a licensing agreement that would grant third-party access to the technology behind Ciba’s Tinosorb S ultraviolet filtre, the commission said.
“Following a market investigation, the commission concluded that the divested businesses would be viable and that the commitments would resolve all identified competition concerns,” it said.
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