The European Commission has approved Ineos' proposed acquisition of BASF SE.'s Seal Sands plant in the UK. The commission's market investigation revealed that the proposed acquisition is perceived by market players to have a positive effect because it would bring additional capacities onto the merchant market.
The proposed acquisition mainly concerns the production and distribution of acrylonitrile (ACN). BASF has not been, in the past, involved to any significant extent in the merchant market and instead mainly used its acrylonitrile production in-house, the commission said the deal would not bring about a significant change in the market.