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Image header Agence Europe
Europe Daily Bulletin No. 10621
ECONOMY - FINANCE - BUSINESS / (ae) competition

Two mergers given go-ahead, one subject to conditions

Brussels, 25/05/2012 (Agence Europe) - On 25 May 2012, the European Commission gave the go-ahead to the acquisition, subject to certain conditions, of SCA Packaging (Svenska Cellulosa Aktiebolaget SCA AB, a Swedish packaging company) by British packaging company DS Smith Plc. Both companies will have to sell one of their offset-printed high-strength corrugated cardboard production sites in the UK, and one of their three factories in Brittany, France. The Commission says that the sites sold off will remain viable and the sale will solve the competition problems the deal would otherwise have given rise to in the cardboard box and packaging industry. The Commission also authorised the acquisition of high-performance and speciality chemicals company Solutia Inc. by Eastman Chemical Company, both of which have their headquarters in the United States. The Commission says the merger will not raise competition issues because the two companies operate in different markets. (FG/transl.fl)

 

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