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Business
Ineos' buy faces EC scrutiny
March 6, 2006
| A version of this story appeared in
Volume 84, Issue 10
The European Commission is opening a detailed investigation into Ineos' planned acquisition of BP's ethylene oxide/glycol business in Dormagen, Germany. The purchase is separate from Ineos' $9 billion purchase of BP's Innovene petrochemical business, which was completed in December. Competition Commissioner Neelie Kroes says the oxide/glycol deal "would make Ineos by far the largest supplier of ethylene oxide to the merchant market" in Europe. The agency has until July 14 to reach a decision.
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