EU Greenlights Domo-Solvay PA Deal
Solvay’s divestment of its European PA 6.6 business to Leuna, Germany-based Domo Chemicals has been greenlighted by the EU Commission.
The approval clears the way for the Brussels-based chemical producer to exit the business, as Chinese regulatory authorities have also granted approval for the massive transaction.
The Commission cleared the sale of the activities outside Europe to German chemicals and plastics giant BASF at the beginning of the year.
Originally planned as a transaction deal solely between Solvay and BASF, the EU mandated the divestment of the European activities to a third party to resolve concerns that the German group could dominate the PA 6.6 production chain.
With the buy, Domo will pick up production sites for PA 6.6 in France, Spain and Poland.