Mergers: Commission clears three separate acquisitions of Shanghai SECCO Petrochemical, Shanghai INEOS Sinopec HDPE (Tianjin) Limited and INEOS Styrolution Advanced Materials (Ningbo) by INEOS and Sinopec

Daily News 26 / 10 / 2022


Economia - pubblicata il 28 Ottobre 2022


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Source: European Commission Spokesperson’s Service

The European Commission has approved, under the EU Merger Regulation, three separate joint acquisitions that include the takeover of Shanghai SECCO Petrochemical Co., Ltd. (‘Shanghai SECCO
Petrochemical’), Shanghai INEOS Sinopec HDPE (Tianjin) Limited and INEOS Styrolution Advanced Materials (Ningbo) Pte Ltd, all of China, by INEOS AG of Switzerland and China Petroleum and Chemical
Corporation (‘Sinopec’) of China. Shanghai SECCO Petrochemical is a producer of, among other, propylene, polypropylene, acrylonitrile, ethylene, polyethylene and toluene. Shanghai INEOS Sinopec
HDPE (Tianjin) Limited will develop, construct and operate a high-density polyethylene plant in China. INEOS Styrolution Advanced Materials (Ningbo) Pte Ltd is developing and constructing, and will
operate once completed, an acrylonitrile butadiene styrene plant in China. INEOS is a privately owned conglomerate that produces a range of chemicals including petrochemicals, specialty chemicals
and oil products. Sinopec is a petroleum and petrochemical state-owned enterprise. In three separate decisions, the Commission concluded that all three proposed acquisitions would raise no
competition concerns because of the limited activities of Shanghai SECCO Petrochemical, Shanghai INEOS Sinopec HDPE (Tianjin) Limited and INEOS Styrolution Advanced Materials (Ningbo) in the
European Economic Area. These three operations were examined under the simplified merger review procedure. More information will be available on the Commission’s competition website, in the
public case register under
the case numbers M.10886,
M.10887
and M.10888.

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