STYROLUTION
Deal creating joint venture is signed
BASF (Ludwigshafen; www.basf.com) and Ineos (Lyndhurst /UK; www.ineos.com) have inked the contract to make Styrolution (Ludwigshafen / Germany; www.styrolution.com) a 50:50 joint venture of the two partners – see Plasteurope.com of 24.05.2011. The European Commission is due to make a decision on approving the jv on 1 June. Observers speculate that the signing could mean the EU authority has accepted the two groups’ offer to sell a plant as a condition for approval. All the other prerequisites for the deal are in place. Plans to merge the EUR 5 bn assets were announced at the end of 2010.
31.05.2011 Plasteurope.com [219530-0]
Published on 31.05.2011
German version of this article...