European Commission Approves Ciba Deal

BASF's acquisition of Ciba has received conditional approval from the European Commission, with a decision by the U.S. Federal Trade Commission still pending. To satisfy the commission, BASF has agreed to divest certain specialty chemical assets for the paper, dyestuffs, plastics, and skin care markets. These assets include a BASF dimethylaminoethyl acrylate plant in Ludwigshafen, Germany; Ciba's bismuth vanadate and European synthetic dry strength agents businesses; resources related to Ciba's indanthrone blue business; Ciba's Finland-based business for styrene acrylics and other acrylates; and Ciba's line of hindered-amine light stabilizers. BASF has also agreed to license Ciba's technology for UV light filters for skin care products. The businesses have combined sales of less than $125 million per year.