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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  

28/10/2022 | Economia |  Daily News 26 / 10 / 2022

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.10886M.10887 and M.10888.

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chemicals INEOS Materials owned plant SECCO Styrolution acquisitions Advanced case European polyethylene acrylonitrile China Commission HDPE Merger operate Petrochemical Sinopec three under will competition limited Ningbo petroleum separate Shanghai that Tianjin
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