EU OKs BASF Joint Venture With Ineos Plant Sale

Law360, New York (June 1, 2011, 3:35 PM EDT) -- The European Union's antitrust watchdog on Wednesday approved a bid by BASF SE and Ineos Industries Holdings Ltd. to turn their styrene businesses into a joint venture, provided the chemical makers shed an Ineos plant in Spain.

The European Commission agreed to the proposed antitrust fixes that the companies had offered in May, which require Ineos to divest part of its acrylonitrile butadiene styrene business. The ABS unit is one of three groups of styrene operations the companies plan to combine under one roof along with...
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