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Regulation

Evonik will sell Canadian plant to win clearance for hydrogen peroxide acquisition

by Michael McCoy
February 1, 2020 | APPEARED IN VOLUME 98, ISSUE 5

 

Evonik Industries plans to sell PeroxyChem’s hydrogen peroxide facility in Prince George, British Columbia, to United Initiators. Evonik agreed to the sale to win approval from Canada’s competition bureau for its purchase of PeroxyChem, announced in November 2018. The bureau says the full purchase would have hurt peroxide buyers in western Canada by lessening competition. The bureau says it worked closely with the US Federal Trade Commission, which recently lost a lawsuit to stop the deal.

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