BASF offers concessions for nylon merger

BASF says it is offering concessions to ease European Commission antitrust concerns over its purchase of Solvay’s nylon 6,6 business. In June, the EC announced an in-depth investigation into the $1.9 billion transaction, saying it could impact competition throughout the nylon 6,6 supply chain. To smooth the way for approval as the EC concludes its review, BASF has offered to “refrain from acquiring” certain parts of Solvay’s European nylon business, including “innovation capabilities” and manufacturing assets. Although BASF won’t be specific, it does reiterate that the deal will bring back-integration to the raw material adiponitrile. The firm is interested in Solvay’s stake in the Butachimie adiponitrile joint venture with Invista in France.