The European Commission has set August 24th as the deadline for its inquiry into British chemical company Ineos' proposed acquisition of Norsk Hydro ASA's petrochemicals business Kerling ASA. The value of the proposed acquisition is estimated at 5.5 bln nkr. The agreed payment is subject to various changes in equity until the deal closes in Q3 of this year.
Kerling has production facilities in Norway, Sweden and the UK, tp produce polyvinyl chloride (PVC). Kerling was formerly known as Hydro Polymers. Ineos manufactures various petrochemicals, specialty chemicals and polymers at 68 manufacturing facilities across 17 countries.