EU needs more time in connection with Ineos acquisition
(Sep. 7, 2007) The EU competition authorities announced on Friday, as part of the merger control process, that it needs more time in connection with the acquisition of Hydro's polymers business, Kerling ASA, by UK-based Ineos.
The approval of EU Commission is the sole remaining requirement for the acquisition to be completed.
According to the original schedule, completion was to take place in the third quarter of this year. The acquisition will now be finalized as soon as the Commission gives the go-ahead.
Ineos is working with the Commission in order to clarify any remaining questions as soon as possible. The Commission now has until 11 January 2008 to complete its investigations.
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