Solvay: divestment of polyamides business progressing
(CercleFinance.com) - The divestment of Solvay's polyamides businsess to BASF is now underway.
BASF has offered to sell some of the assets that were initially included in the terms of the transaction.
These sales will help to resolve competition issues raised by the European Commission.
The European Commission is currently examining these proposals and has started consulting market players before giving its final opinion.
"The assets concerned by the remedies include innovation capabilities and manufacturing assets of Solvay's polyamide intermediate and engineering plastics business in Europe. The activities included in the proposed remedy scope are able to compete as successful stand-alone businesses under third party ownership." the company said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
BASF has offered to sell some of the assets that were initially included in the terms of the transaction.
These sales will help to resolve competition issues raised by the European Commission.
The European Commission is currently examining these proposals and has started consulting market players before giving its final opinion.
"The assets concerned by the remedies include innovation capabilities and manufacturing assets of Solvay's polyamide intermediate and engineering plastics business in Europe. The activities included in the proposed remedy scope are able to compete as successful stand-alone businesses under third party ownership." the company said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.