BRUSSELS, May 8 (Reuters) - The European Commission has approved the PVC joint venture between Belgian group Solvay and Switzerland-based INEOS after the pair agreed to sell some plants and assets to ease competion concerns.
The Commission, which acts as the 28-member bloc's competition watchdog, previously raised concerns about the market for products such as S-PVC, used in window frames, and bleach for water treatment and laundry bleaching.
By agreeing to divest assets in Belgium, France, Germany, the Netherlands and Britain, the companies addressed the issues adequately, the Commission said on Thursday
"These commitments remove the overlaps between the parties' activities in both the market for commodity S-PVC in northwest Europe and the market for bleach in the Benelux (countries)," the Commission said in a statement.
The joint venture, with estimated sales of 4.3 billion euros ($5.99 billion), will be the world's second-biggest PVC producer after Japan's Shin-Etsu
Reuters reported on April 14 that the Commission would approve the deal.
($1 = 0.7183 Euros)
(Reporting by Robert-Jan Bartunek; editing by Adrian Croft)
((robertjan.bartunek@thomsonreuters.com)(+32 2 2876850)(Reuters Messaging: robert-jan.bartunek.thomsonreuters.com@reuters.net))
Keywords: SOLVAY INEOS GROUP HLDG/EU
