Ineos Acquires Hydro Polymers
Ineos Capital Ltd., Lyndhurst/England, confirms that it has received unconditional clearance from the European Commission for the purchase of the Hydro Polymers businesses in Norway, Sweden and the UK from Norsk Hydro ASA, Oslo/Norway. The acquisition was agreed with Norsk Hydro last year and includes the remaining 50 % interest in the Noretyl ethylene cracker at Rafnes/Norway, Ineos Group having acquired the other 50 % from Borealis last summer. Ineos expects the acquisition to be completed in the next week.
On 12th December the Commission began an investigation into the alleged early
implementation of this transaction by visiting the parties’ premises in United Kingdom. A too early implementation would be contrary to the applicable competition
laws. The Commission has now confirmed that, following its assessment of the information gathered during the inspections, it has come to the conclusion that the allegations of early implementation were unjustified and it will not therefore be taking the matter any further.
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