INEOS/Solvay chlorovinyls JV cleared conditional on divestments
The European Commission has cleared the combination of INEOS's and Solvay's activities in PVC and related products, subject to the divestment of several plants. The Commission had argued that, in the absence of remedies, the JV would have led to higher prices for commodity S-PVC (the type of PVC used, among other things, in window frames and pipes) in North West Europe and for bleach in the Benelux countries where INEOS and Solvay are the two largest suppliers. The parties will sell PVC plants in France, Germany and the Netherlands, as well as some assets in the UK and Belgium that supply inputs to those plants; the buyer will have to be approved by the Commission.
The CRA team advising INEOS and Solvay in this transaction was led by Cristina Caffarra and included Ugur Akgün, Gerhard Dijkstra, Diana Jackson, Oliver Latham, Pierre Régibeau, Ian Small, and Valter Sorana.