EU Clears Ipic’s Buy of Cepsa, Despite OverlaPS

The European Commission has cleared the proposed acquisition of a controlling stake in Compañía Española de Petróleos (Cepsa; Madrid) by International Petroleum Investment Co. (IPIC; Abu Dhabi). IPIC is buying Total’s 48.83% stake for €3.7 billion ($5 billion) under a deal announced earlier this year. The commission says that after examining the operation, it concluded that “the merged entity would face effective competitors and that the transaction would have no effect on the merged entities’ incentives to coordinate their behavior.” The...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers