12 April 2012 18:50 [Source: ICIS news]
LONDON (ICIS)--The European Commission is examining plans by an Austrian building firm to acquire 100% ownership of plastics pipe maker Pipelife, the regulatory authority said on Thursday.
Austria'sWienberger already owns 50% of the joint venture pipeline company. It announced in February plans to buy the remaining 50% from Belgium-based chemicals company Solvay for €172m ($226m), .
The European Commission said the deal could fall within EU’s merger legislation.
However, the commission has not yet reached a final decision on this point and called on interested third parties to submit their comments on the proposed deal within 10 days, it said.
Pipelife produces and sells polyvinyl chloride (PVC) and polypropylene (PP) plastic piping systems, serving both EU and international markets. Pipelife’s main line of business is the production of sewage pipes, the commission said.
Vienna-based Pipelife employs 2,600 people at 29 production facilities worldwide. Solvay and Wienerberger founded the joint venture 22 years ago.
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