EU clears Advent’s acquisition of Cytec’s coating resins business

9:38 AM, 12th February 2013

EU clears Advent’s acquisition of Cytec’s coating resins business

BRUSSELS, BELGIUM: The European Commission has granted clearance under the EU Merger Regulation to the proposed acquisition of the coating resins business (CRB) of Cytec Industries Inc by Advent International Corporation. The case was examined under the normal merger review procedure.

The Commission’s investigation confirmed that the vertical links arising between the chemical manufacturer Oxea, which is already under the control of Advent, and CRB would not raise concerns as Oxea faces a number of competitors on most of the chemical markets in which it operates and CRB is not a significant consumer of these chemical. The Commission therefore concluded that the merged entity would not have the ability or incentive to engage in anticompetitive conduct.

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