17/09/2013 (Agence Europe) - Mergers: UPC-GPT/New petrochemical company. On Tuesday 17 September, the European Commission gave the go-ahead to the acquisition of joint control over a newly created joint venture by the Joint Stock Company United Petrochemical Company (UPC) of Russia and Grupo Petrotemex S.A. de C.V. (GPT) of Mexico. UPC carries out petrochemical and gas processing activities, via companies it holds in Russia, and research and analysis for investment opportunities in petrochemical businesses. GPT manufactures and sells polyester chains, in particular terephtalic acid, polyethylene telephtalate resin, polyester staple fibre, for use in food and personal care packaging and textiles. GPT is mainly active in the Americas. The joint venture will manufacture and sell polyester chains, in particular polyethylene telephtalate resin, in the Commonwealth of Independent States (CIS), the European Economic Area (EEA) and neighbouring countries. The Commission concluded that the proposed acquisition would not raise competition concerns, because the parties' activities have a different geographic focus and their market shares would remain low after the transaction. The transaction was examined under the simplified merger review procedure. (FG/transl.fl)