The European Commission has cleared under the EU Merger Regulation the proposed acquisition of the inks and adhesive resins business of Akzo Nobel of The Netherlands by Hexion, which is owned by the Apollo Group. The commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.
The main impact of the transaction is on resins used for the printing ink industry, and in particular on rosin resins. However, the commission’s investigation revealed that, despite the considerable market shares of the merged entity in the rosin resins market, the market structure would remain competitive even after the proposed transaction. In particular, a number of effective competitors, which have sufficient spare capacity, will remain in the market.