27 March 2013 14:28 [Source: ICIS news]
LONDON (ICIS)--The European Commission has cleared the planned acquisition of Petrochem Carless, a ?xml:namespace>
The Commission said that it examined in particular the competitive effects of the proposed deal in the markets for the production and supply of printing ink distillates and performance fuels and its sub-segments - automotive reference fuels, racing-fuels and first-fill fuels.
However, it found that the acquisition would not raise competition concerns because of the parties' moderate combined market shares, the ability of customers to switch to other suppliers, and the presence of a sufficient number of strong competitors that will continue to exert competitive constraint on the merged Haltermann-Petrochem entity, it said.
Germany-based Haltermann - a former Dow Chemical business unit - is part of US-based private investment firm HIG Capital, which acquired it in 2011. Haltermann is active in the production and supply of hydrocarbon-based chemicals.
Petrochem Carless, based at Leatherhead in
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