Brussels Okays CVC’s Evonik Stake

The European Commission has approved private equity firm CVC Capital Partners’ €2.4-billion ($3.4 billion) acquisition of a 25% stake in Evonik Industries (CW, June 9/16, p. 10). CVC’s chemicals portfolio includes printing inks firm Flint Group (Luxembourg), amines producer Taminco (Gent, Belgium), and distributor Univar. The commission says it “concluded that the transaction would not significantly impede effective competition” in Western Europe. RAG Foundation (Essen, Germany) owns the rest of Evonik. CVC and RAG Foundation plan an...

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