Engineering News

EU Regulators Extend Review of Solvay, INEOS Deal to Nov. 5
October 15, 2013

BRUSSELS, Oct 15 (Reuters) - EU antitrust regulators will decide by Nov. 5 whether to clear a planned joint venture between Belgian chemicals company Solvay and INEOS after Solvay offered concessions to allay competition concerns, the European Commission said on Tuesday.

The EU competition authority unveiled the new deadline, which is a 10-working day extension from the previous Oct. 21 deadline, on its website. It did not set out Solvay's concessions in line with its policy.

The PVC joint venture, with estimated sales of 4.3 billion euros ($5.84 billion), would be the biggest PVC producer globally after Japanese rival Shin-Etsu.

Solvay and Swiss-based INEOS aim to complete the deal by the end of the year.

($1 = 0.7361 euros)

Source: Reuters

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