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European Commission clears the acquisition by Ineos of BP`s Dormagen business without remedies after Phase II investigation

Following an in depth investigation, the European Commission has cleared the acquisition of BP's Ethylene Oxide and Glycols Business in Dormagen (Germany) without conditions. The transaction concludes Ineos' acquisition of BP's olefin and refining subsidiary Innovene. The main part of the deal was cleared in a separate transaction in December 2005 after a Phase I investigation.

The acquisition created initial concerns due to the share of the combined entity in the merchant EO market. However, the Commission concluded that competition from the parties' rivals - many of which are large integrated producers - would be sufficient to constrain prices post-merger.

CRA International advised Ineos before the European Commission throughout both investigations (Ineos/Innovene and Ineos/BP-Dormagen) with quantitative and qualitative analyses of the relevant economic issues.

See Commission press release on Ineos/BP-Dormagen and Ineos/Innovene

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