Ineos Purchase of Hydro PolymersMay Face Antitrust Probe

Ineos says it has agreed to buy Hydro Polymers (Oslo), the integrated polyvinyl chloride (PVC) business of Norsk Hydro, for NK5.5 billion ($907.7 million) in net debt and equity, effective December 31, 2006. The price is subject to adjustments including changes in equity until the closing of the transaction, which is anticipated in the third quarter, the companies say. Hydro expects an after-tax gain of approximately NK400 million. The sale is in line with Hydro’s previously announced plans to focus on aluminum and power (CW, May 2, p. 5). However, the deal...

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