EC approves TPG IV's acquisition of British Vita

Under the EU Merger Regulation, the European Commission has cleared the proposed acquisition of British Vita PLC by TPG IV. The EC has granted approval as upon examining the transaction, it concluded that effective competition in the EEA or any substantial part of it would not be significantly impeded. British Vita is a manufacturer and supplier of polymer-based products for various end applications and by TPG IV is a US-based private equity fund that invests in a variety of companies. It is active in the manufacture and supply of synthetic elastomers (Styrenic Bloc Copolymers - SBCs - in particular) through Kraton Polymers LLC. The Commission's examination of the transaction showed that the horizontal overlaps between the activities of Kraton and British Vita were minor and that the vertical relationship between the companies in the field of SBCs would not close off supplies of SBCs to other users given British Vita's limited consumption of such materials and the availability of alternative sources of supplies for this product.