Brussels, 27/02/2012 (Agence Europe) - On Monday 27 February, the European Commission authorised three merger operations, which it examined under the simplified examination procedure.
The Belgian oil company PetroFina S.A. (of the French group Total) is authorised to buy the stakes held by the American oil group ExxonMobil in the processing company Fina Antwerp Olefins N.V. (FAO), which owns three naphtha crackers, satellite units and logistics; it produces base chemicals (ethylene and propylene) and their co-products. Via its chemicals sector, Total produces, distributes and sells base chemicals, raw-material polymers and speciality chemical products.
The Russian company OJSC Power Machines and the Japanese company Toshiba Corporation have been granted permission to take control of a new joint entity which will produce and sell oil-immersed power transformers and oil-immersed shunt reactors. Power Machines and Toshiba are active in the production of equipment for the generation, transmission and distribution of high-voltage electrical current.
Lastly, the Commission has given permission for the French groups SCOR (reinsurance) and Mutuelle des Architectes Français (MAF - insurance) to acquire the Brazilian insurance company Essor Participações Ltda. (FG/transl.fl)