EU regulators approve Akzo Nobel's takeover of ICI
AFP - [email protected]
Published: 14 Dec, 2007 CET.
Updated: Fri 14 Dec 2007 11:14 CET
EU antitrust regulators approved on Friday Swedish-Dutch chemicals and paints group Akzo Nobel's purchase of British peer ICI after receiving promises that some assets would be sold to ensure competition.
The European Commission gave its approval on condition Akzo "divest activities in the UK, Ireland and Belgium as well as a shareholding in the adhesives manufacturer Purbond."
Last August, Dulux manufacturer ICI agreed to be bought by its Dutch rival for £8 billion ($16.3 billion).
The transaction is expected to close on January 2nd, 2008.
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The European Commission gave its approval on condition Akzo "divest activities in the UK, Ireland and Belgium as well as a shareholding in the adhesives manufacturer Purbond."
Last August, Dulux manufacturer ICI agreed to be bought by its Dutch rival for £8 billion ($16.3 billion).
The transaction is expected to close on January 2nd, 2008.
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