16 June 2011 09:29 [Source: ICIS news]
SINGAPORE (ICIS)--The European Commission has cleared ?xml:namespace>
Aditya Birla said on 31 January this year that it entered into an agreement to acquire Atlanta-based Columbian Chemicals from One Equity Partners, an investment banking group held by JP Morgan Chase.
The deal is valued at $875m (€621m), according to media reports.
Columbian Chemicals has manufacturing facilities in
“The Commission has concluded that although the merger will create one of the three largest companies in the sector, European customers will continue to enjoy healthy competition,” the Commission, an anti-trust watchdog, said in a statement.
“European customers will still be able to source carbon black from different suppliers across the European Economic Area (EEA) and beyond,” the statement said.
Continued competition will remain from different producers located within the EEA and from direct imports from Russian and Ukrainian producers, the Commission added.
Carbon black is a chemical product used mostly in the production of tyres, but also in printing inks and plastics.
($1 = €0.71)
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