BASF still hopes to acquire Solvay’s polyamide business
22/10/2018
In September 2017, BASF has announced its intention to acquire Solvay’s polyamide business. Its aim is to complement its own engineering plastics portfolio and “ensure backward integration into key raw materials”.
However, approval of the proposed deal by the regulatory authorities of the European Union is not yet complete. In a new statement in mid-October, BASF said it had taken steps to “meet the concerns of the EU Commission”.
It has offered to “refrain from acquiring certain parts” of Solvay’s European polyamide business. The parts of Solvay’s business that it is now proposing to exclude from the deal include innovation capabilities and manufacturing assets of Solvay’s intermediate and engineering plastics business.
The EU Commission is now examining this offer.
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