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EU Commission Clears BASF’s Acquisition of Solvay’s Polyamide Business
The EU Commission granted conditional clearance for BASF to acquire Solvay’s polyamide business.
Closing is expected in the second half of 2019 after all remaining closing conditions have been fulfilled, including the sale of a remedy package to a third party.
During the approval process in Europe BASF made commitments to address the competition concerns of the EU Commission. They require divesting parts of the original transaction scope to a third-party buyer, namely manufacturing assets and innovation capabilities of Solvay’s polyamide business in Europe.
The divestment process started in Q4 2018.
The polyamide businesses to be acquired in the Americas and in Asia are not affected by the commitments.
BASF will achieve key strategic objectives from the acquisition and strengthen its polyamide 6.6 business significantly.