18 January 2013 16:02 [Source: ICIS news]
LONDON (ICIS)--The European Commission has cleared the acquisition of Poland’s state-controlled fertilizer group Zakłady Azotowe Puławy (ZAP) by Zakłady Azotowe w Tarnowie-Moscicach (ZAT), it said on Friday.
The Commission said that while both firms are active in nitrogen fertilizers and related chemical intermediates, the merged entity would continue to face a number of strong competitors in the European market.
The Commission added that in probing the deal it investigated the markets for intermediate product nitric acid, and by-products carbon dioxide (CO2) and compressed hydrogen but found that alternative suppliers for all these products are available to customers, both in Poland and abroad.
The deal, structured as a share swap, will create ?xml:namespace>
Additional reporting by Will Conroy
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