EU approves Spolek as purchaser for Hexion's planned divestiture
03 Oct '08
1 min read
Huntsman Corporation announced that the United States Federal Trade Commission (FTC) granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for Huntsman's pending merger with Hexion Specialty Chemicals Inc.
Pursuant to an agreement among the FTC, Hexion and Huntsman and the FTC's proposed decision and order, Hexion will divest part of its specialty epoxy resin production and development capabilities to Spolek Pro Chemickou a Hutni Vyrobu, Akciova Spolecnost (Spolek) and, prior to closing the merger with Huntsman, Hexion will obtain certain third party consents in connection with the divestiture.
Additionally, the European Commission, which had previously approved the merger conditioned on the same divestiture, has approved Spolek as the purchaser.
Huntsman is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging.
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