|
(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
| 
