Brussels, 14/05/2001 (Agence Europe) - On Monday, the European Commission approved the acquisition by Industri Kapital Group of the chemical business of Swedish Perstorp AB, subject to the sale of Industri Kapital's activities in the phenolic resins sector in Meerbeck (Germany) and those of Perstorp in the field of resins and merchant formaldehyde in Perstorp (Sweden).
Industri Kapital Group manages and controls several private investment funds which themselves control a large number of companies, including Dynea Oy, which operates in the special chemicals products sector. Perstorp, registered in Sweden, is the parent company of a group of companies that operate in the chemical products and flooring sectors.
The investigation carried out by the Commission revealed that the operation planned would create a dominant position on the resin market for V-100 particle board resins in Germany as well as on the market for insulation bonding resins in Norway, Sweden and Denmark. It would also create a dominant position on the formaldehyde market in Denmark.
Consequently, Industri Kapital agreed to sell the Perstrop business in the resin sector as well as its merchant formaldehyde business to Perstrop, in Sweden. Thanks to this sale, the operation will not create a dominant position in Scandinavia on the product markets in question. Also, Industri Kapital has undertaken to divest its activities in the field of phenolic resins to Meerbeck, which will eliminate competition problems likely in Germany on the market for V-100 particle board resins.