Press Release: Mergers: Commission clears Blackstone’s take-over of Acetex

The European Commission on 13 July 2005 cleared under the EU Merger Regulation the proposed acquisition of the Canadian chemicals company Acetex by the US based merchant-banking firm Blackstone. One of the companies controlled by Blackstone, Celanese, was active on the same markets as Acetex. The Commission had initially been concerned about the parties' horizontal overlaps in the markets of acetic acid, vinyl acetate monomer (VAM) and acetic anhydride, and so had opened an in-depth inquiry (see IP/05/280). However, the in-depth analysis indicated that the markets for these three products were global and that the presence of competitors would exert a sufficient competitive pressure on the parties. The Commission now concluded that the transaction would not significantly impede effective competition in the European Economic Area or a significant part of it.

• Primary Source

Blackstone: In the news: Press Releases: 'Celanese Receives Unconditional Approval from European Commission for Acquisition of Acetex Corporation', 13.7.05 http://www.blackstone.com/news/press_releases/07-13-05.pdf

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