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European Commission approves acquisition by Advent of Cytec's coating resins business

6:23 AM MST | February 11, 2013 | Francinia Protti-Alvarez

The European Commission says it approved, on 7 February, the acquisition of the coating resins business (CRB) of Cytec Industries by private equity firm Advent International (New York). The original deal was announced on 12 October 2012 and reported to be valued at $1.15 billion. CRB produces coating resins, additives, and cross-linkers, among other products.   The commission had invited interested parties to express their observations on the acquisition in mid-January. The investigation carried out by the commission confirmed that the vertical links...

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