The European Commission has given its final approval for INEOS and Solvay to form a Joint Venture in their chlorvinyls businesses, after clearing ICIG’s acquisition of INEOS’s divested assets. CRA advised the INEOS and Solvay throughout the initial merger investigation, and also assisted the parties and ICIG in responding to concerns that the divestment might lead to coordinated effects in the market for liquid potassium hydroxide, despite resulting in a deconcentration. CRA also supported the parties in ensuring customers were randomly allocated between the divestment business and the JV, subject to hitting a gross margin target and ensuring that no problematic local market levels of concentration were created.
The CRA team advising INEOS, Solvay and ICIG in relation to the divestment included Cristina Caffarra, Diana Jackson, Ian Small, Gerhard Dijkstra and Ilia Karmanov.
The Commission’s press release can be found here.
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