People & Business :: M&A
EU approves acquisition of Shell refinery assets in Germany to avoid plant closure
11:09 AM MDT | September 2, 2013 | Ian Young
The European Commission has approved the previously announced acquisition by Nynas (Stockholm) of assets at the Hamburg-Harburg, Germany refinery of Shell Deutschland Oil. The commission launched an in-depth investigation last April into the acquisition because of possible competition concerns in the markets for naphthenic base oils, naphthenic process oils, and transformer oils. The commission says that the investigation showed that a closure of the Harburg refinery assets is the most likely scenario in the absence of the proposed transaction. This would...
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