London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

Solvay's bid to become a world leader reached the finishing line

August 08/2011

(Expatica) -- Belgian chemicals giant Solvay's bid to become a world leader reached the finishing line on Friday, when EU anti-trust regulators cleared its 3.4-billion-euro (USD 4.8-billion) takeover of France's Rhodia.


The European Commission said checks "concluded that the proposed transaction would not raise competition concerns because a sufficient number of competitors will remain active on all markets concerned."


Brussels regulators decided that "there will be a number of credible and significant competitors who will continue to exercise a competitive constraint on the merged entity in each of the relevant markets."


The EU decision was the last remaining hurdle to the new business, expected to have annual sales of some 12 billion euros, benefitting from an increased exposure to emerging markets, thanks to Rhodia's stronger presence in Brazil and China.


The deal was expected to bring annual cost savings of EUR 250 million within three years.


mrcplast.com

Tags:No
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe