EU clears Eastman’s acquisition Solutia

EU clears Eastman’s acquisition of Solutia

11:08 AM, 28th May 2012
EU clears Eastman’s acquisition of Solutia

BRUSSELS, BELGIUM: The European Commission has cleared under the EU Merger Regulation, the proposed acquisition of Solutia by Eastman Chemical Company. The Commission’s investigation concluded that the transaction would not raise competition concerns because the parties are not active on the same markets and will continue to face sufficient competition.

The Commission’s investigation examined the competitive effects arising from the vertical relationship between Eastman’s upstream supply of 2-ethylhexanoic acid (2-EHA) and Solutia’s downstream supply of plasticizers for use in polyvinyl butyral (PVB) sheet.

The Commission found that post transaction, the merged entity would continue to face competition from a number of strong competitors upstream; that 2-EHA producers would continue to have a range of alternative customers inside and outside the European Economic Area; and that the merger would not result in any substantial change in the markets concerned since Solutia is not currently a customer of Eastman in the EEA.

© WOC News

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