Merger Case M.8674 | Acquisition of Solvay’s nylon business by BASF

Summary:

In-depth investigation conducted by the European Commission over the proposed acquisition of Solvay's global nylon business by BASF. This follows concerns that the merger could reduce competition in the supply of key inputs in the nylon production chain.

Further information:

The proposed transaction involves Solvay and BASF, two companies active in the nylon industry, where both manufacture nylon compounds and nylon fibres.

The transaction was notified to the Commission on 22 May 2018. On 18 January, the Commission approved the acquisition under the EU Merger Regulation. However, the endorsement was conditional on the devistiture of a remedy package.

• Primary Source

News

Reuters, 26.06.18: EU to investigate BASF's Solvay nylon deal https://www.reuters.com/article/idUSKBN1JM24Y

MarketWatch, 27.06.18: EU to probe BASF bid to take over Solvay business https://www.marketwatch.com/story/eu-to-probe-basf-bid-to-take-over-solvay-business-2018-06-27

Reuters, 18.01.19: BASF wins EU's conditional approval for purchase of Solvay's nylon business https://www.reuters.com/article/idUSKCN1PC10J

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Official

BASF: News, 19.09.17: BASF to acquire Solvay’s global polyamide business https://www.basf.com/en/company/news-and-media/news-releases/2017/09/p-17-311.html

Solvay: Press Release, 19.09.17: Solvay enters into a binding agreement to sell its Polyamides business to BASF, a landmark in Solvay’s transformation https://www.solvay.com/en/press-release/solvay-enters-binding-agreement-sell-its-polyamides-business-basf-landmark-solvays

European Commission: Press Release, 26.06.18: Commission opens in-depth investigation into proposed acquisition of Solvay's nylon business by BASF http://europa.eu/rapid/press-release_IP-18-4291_en.htm

European Commission: Press Release, 18.01.19: Commission approves BASF's acquisition of Solvay's nylon business, subject to conditions http://europa.eu/rapid/press-release_IP-19-522_en.htm

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