08 February 2013 17:15 [Source: ICIS news]
The European Commission said its investigation found that vertical links between Oxea, a Germany-based oxo chemicals and derivatives producer already controlled by Advent, and Cytec's coating resins business would not pose a threat to competition in the EU.
In a recent conference call, Cytec executives said that in addition to the EU approval, they were also still waiting for approval from
A Cytec media official could not immediately be reached for additional comment on Friday.
The divestment of the coating resins business, along with the acquisition of UK-based composite and process materials firm Umeco last year, is a key part of Cytec’s strategy to transform its business portfolio.
($1 = €0.75)
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