The European Commission has set a deadline for its inquiry into Saudi Arabian Basic Industries Corporation's (SABIC) proposed US$700 mln acquisition of Huntsman Corp's European base chemicals and polymers business. Dec 21 has been set as the deadline.
At the end of September, Huntsman Corp. has signed an agreement with SABIC, under which SABIC was to acquire Huntsman's European Base Chemicals and Polymers business for US$700 million. As per Huntsman, the sale, which is subject to closing adjustments, will enable the company to reduce its United Kingdom pension liabilities by approximately US$126 mln.
24-Nov-06 
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