Mergers in the Chemical sector

Mergers

The EU Commission clears a merger subject to remedies on the pesticides and plant growth regulators market (ChemChina / Syngenta)
European Commission - DG COMP (Brussels)
Mergers: Commission clears ChemChina acquisition of Syngenta, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed acquisition of Syngenta (based in Switzerland) by ChemChina. The approval is conditional on the divestiture of significant parts (...)

The EU Commission clears a merger subject to remedies on the market of pesticides (Dow / DuPont)
European Commission - DG COMP (Brussels)
Mergers: Commission clears merger between Dow and DuPont, subject to conditions* The European Commission has approved under the EU Merger Regulation the proposed merger between US-based chemical companies Dow and DuPont. The approval is conditional in particular on the divestiture of major (...)

The EU Commission clears a merger, subject to remedies, in the alumina sector (Alteo ARC and Alufin / Imerys)
European Commission - DG COMP (Brussels)
Mergers: Commission approves acquisition of Alteo ARC and Alufin by Imerys, subject to conditions* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Alteo ARC and Alufin by Imerys of France. The clearance is conditional on the divestment of Alteo (...)

The EU Commission opens an in-depth investigation concerning a merger on the chemical products market (Dow / DuPont)
European Commission - DG COMP (Brussels)
Mergers: Commission opens in-depth investigation into proposed merger between Dow and DuPont* The Commission has opened an in-depth probe to assess whether the proposed merger of Dow and DuPont is in line with the EU Merger Regulation. The Commission will investigate further whether the deal (...)

The EU Commission clears a merger, subject to remedies, on the market of chemicals for the mining industry (Solvay / Cytec)
European Commission - DG COMP (Brussels)
The EU Commission clears a merger, subject to remedies, on the market of the chemicals for the mining industry (Solvay / Cytec)* The European Commission has approved under the EU Merger Regulation the proposed acquisition of Cytec by Solvay. The decision is conditional on Solvay’s divestment (...)

The Polish Minister of the State Treasury gains the power to control mergers and acquisitions in strategic sectors
Wiercinski Kwiecinski Baehr (Poznan)
The Minister of the State Treasury will control mergers and acquisitions in strategic sectors of Polish economy* On 30 September 2015, the Act on Control of Certain Investments (the “Act”) enters into force. The Act aims to create mechanisms to protect against hostile takeovers of companies (...)

The Competition Commission of India approves an acquisition pursuant to a shareholders Agreement (Zuari / Mangalore Fertilisers)
Economic Laws Practice
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Economic Laws Practice
Introduction The Competition Commission of India (“CCI”) has approved the acquisition of Zuari Fertilisers and Chemicals Limited (“ZFCL”); and (b) Zuari Agro Chemicals Limited (“ZACL”), together referred to as the “Acquirers”, in Mangalore Chemicals and Fertilisers Limited (“MCFL”), pursuant to a (...)

The Hungarian Competition Authority holds that whether an undertaking is under sole or joint control depends on who can adopt the business plan (Overlack / Novochem)
Kinstellar (Budapest)
Under the definition of “control” in the Hungarian Competition Act, several circumstances may provide the possibility of exercising decisive influence over an undertaking, including ownership of the majority of shares or the right to appoint or recall directors. It is therefore possible that an (...)

The EU Commission approves the acquisition of several chemical businesses, subject to conditions (Huntsman / Rockwood)
European Commission - DG COMP (Brussels)
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European Commission - DG COMP (Brussels)
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European Commission - DG COMP (Brussels)
"The "White Powder" Case: Balancing the Evidence"* The Huntsman- Rockwood TiO2 merger provides lessons for future chemical cases on the following topics: 1) The use of market features and price correlation to define relevant market. 2) Competition by Chinese products in the European (...)

The EU Commission clears a merger between the two top-tier suppliers of S-PVC upon submission of significant remedies (INEOS / Solvay / JV)
European Commission - DG COMP (Brussels)
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European Commission - DG COMP (Brussels)
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European Commission - DG COMP (Brussels)
"INEOS / Solvay / JV: Yet another P(ractically) V(ery) C(omplex) merger"* In a nutshell : Natural experiments are rare in merger assessment. However, previous mergers in the PVC industry made it possible in this case to analyse the effects of consolidation on competition and prices. (...)

The European Commission approves a joint venture in the PVC production sector on the basis of a divestiture (INEOS / Solvay)
Van Bael & Bellis (Brussels)
On 8 May 2014, the European Commission conditionally cleared the joint venture combining the European chlorvinyls businesses of INEOS of Switzerland and Solvay of Belgium. During an in-depth review of the deal, the Commission expressed concerns regarding two markets: the North West European (...)

The Chinese MOFCOM clears acquisition on the market for chemical materials used in the manufacture of integrated circuits and flat panel displays (Merck / AZ Electronics)
AnJie Law (Beijing)
Last Hurdle for Merck’s Acquisition of AZ Electronics Removed: MOFCOM’s 23rd Conditional Clearance* Following the antitrust watchdog in Germany, Japan, Taiwan and the United States, the Ministry of Commerce of the People’s Republic of China (MOFCOM) conditionally cleared Merck KGaA’s (Merck) (...)

The Chinese MOFCOM grants a conditional clearance on a proposed $3.1 billion acquisition on the market for liquid display crystals and photoresists (Merck / AZ Electronics)
AnJie Law (Beijing)
MOFCOM Raised Specific Concerns over Adjacent Markets in Its Merger Review* Introduction On April 30, 2014, China’s Ministry of Commerce (“MOFCOM”) granted a conditional clearance on the proposed $3.1 billion acquisition of London-listed AZ Electronic Materials S.A. (“AZ”) by Merck KGaA (“Merck”) (...)

The Higher Regional Court Düsseldorf halts a Federal Cartel Office decision to unwind a 17 year old joint venture pending the outcome of an appeal against the decision (Chemie-Vertrieb)
Simmons & Simmons (Dusseldorf)
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Simmons & Simmons (Dusseldorf)
A German appeal court has halted a Federal Cartel Office (FCO) decision to unwind a 17 year old joint venture until the outcome of an appeal against the decision is known. In its interim decision, the court took the opportunity to: set out the requirements under German law for the FCO to find (...)

The Competition Tribunal of South Africa approves a merger in the petrochemical and mining sector within four hours of receiving the Competition Commission’s recommendation (Stefanutti Stocks / Energotec)
Nortons Incorporated
South African Competition Tribunal approves merger in record time of 4 hours* The South African Competition Tribunal received notice of, heard and approved the acquisition by construction firm, Stefanutti Stocks (Pty) Ltd, of Energotec, which is a division of First Strut (Pty) Ltd, and (...)

The UK Competition Appeal Tribunal indicates the extraterritorial reach of UK merger control (Akzo Nobel)
Norton Rose Fulbright (London)
The proposed acquisition by the Netherlands company Akzo Nobel of shares in an Italian competitor, Metlac, taking Akzo’s interest in Metlac from a pre-existing 49 per cent to full 100 per cent ownership, was notified to nine competition authorities across the world under their merger control (...)

The UK Competition Appeal Tribunal applies the single economic unit theory and finds that the CC has authority to prevent the concentration between two non-resident corporations on a segment of the metal packaging coatings market (AkzoNobel Holland / Metlac Italy)
Blackstone Chambers
The Competition Commission’s power to block transactions outside the UK* The judgment in Akzo Nobel NV v Competition Commission [2013] CAT 13 is an important decision on the ability of the Competition Commission (“CC”) to block transactions between companies outside of the UK. However, neither (...)

The Chinese MOFCOM conditionally clears the establishment of a joint venture in the market for cyanoacrylate monomer (Henkel / Tiande)
China Competition Bulletin
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China Competition Bulletin
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Institute of American Studies
On 10 February 2012, MOFCOM announced that it had conditionally approved the establishment of a joint venture between Tiande Chemical Holdings Co., Ltd. (Tiande) and Henkel Hong Kong Holding Ltd (Henkel), a subsidiary of Henkel KGaA. The joint venture will be set up for the production of (...)

The EU Commission publishes decision refusing derogation from standstill obligation in merger case in the consumer goods industry (SC Johnson / Sara Lee)
Van Bael & Bellis (Brussels)
On 11 September 2012, the European Commission published a decision refusing a request by SC Johnson for a partial derogation from the standstill obligation under the EU Merger Regulation in order to close its acquisition of Sara Lee’s household insecticide business outside of the EEA. (...)

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