BASF and Ineos Get Nod for Styrolution JV; Divest ABS Unit

BASF and Ineos have received approval from the European Commission for the companies’ previously announced 50-50 Styrolution joint venture. The jv combines the global styrenics businesses of BASF and Ineos. The approval is conditional on the companies divesting an Ineos acrylonitrile butadiene styrene (ABS) plant at Tarragona, Spain. The plant accounted for less than 3% of Styrolution’s pro forma 2010 Ebitda, the companies say. The commission concluded that the jv “would not significantly modify the stucture of the majority of the relevant...

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