Akzo Nobel: EU Commission clears sale of specialty business
(CercleFinance.com) - The European Commission has cleared a deal by US private equity firm Carlyle to buy the specialty chemicals business of the Dutch company Akzo Nobel, the EU's executive said on Tuesday.
The Commission concluded that the proposed transaction would raise no competition concerns given the minor horizontal and vertical overlaps between the parties' businesses, it said.
The transaction has been examined under the simplified merger review procedure.
In March AkzoNobel said it would sell its specialty chemicals business to Carlyle Group and Singapore sovereign wealth fund GIC for an enterprise value of 10.1 billion euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Commission concluded that the proposed transaction would raise no competition concerns given the minor horizontal and vertical overlaps between the parties' businesses, it said.
The transaction has been examined under the simplified merger review procedure.
In March AkzoNobel said it would sell its specialty chemicals business to Carlyle Group and Singapore sovereign wealth fund GIC for an enterprise value of 10.1 billion euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.