The European Commission has cleared the proposed acquisition of the UK's Huntsman Petrochemicals Limited by Sabic UK Petrochemicals Holdings Limited, owned by Saudi Arabian Basic Industries Corporation (SABIC), of Saudi Arabia. Huntsman Corp has agreed to sell its European base chemicals and polymers business to Sabic for US$700 mln In September, a move that will allow Huntsman to reduce its UK pension liabilities by around US$126 mln. The Commission concluded that the operation would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.
21-Dec-06 
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