Fair trade regulator CCI on Tuesday approved chemical company Lanxess and Saudi Aramco deal to form a joint venture for synthetic rubber valued at 2.75 billion euro.
Germany-based Lanxess and Saudi Aramco subsidiary, Aramco Overseas Company (AOC), will each hold a 50 per cent interest in the joint venture.
“CCI approves formation of a 50:50 joint venture for synthetic rubber between Lanxess and AOC,” the Competition Commission of India (CCI) today said in a tweet.
According to the deal, Saudi Aramco will have to pay about 1.2-billion euro in cash for its 50 per cent share after deducting debt and other financial liabilities. “Lanxess will contribute its synthetic rubber business to the new joint venture.
Full content: Albawaba
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – China Edition – Year of the Dragon
Apr 16, 2024 by
CPI
Review Logic and Rules for Concentrations of Undertakings that Do Not Meet the Standard of Notification
Apr 16, 2024 by
CPI
China’s Review of Semiconductor Transactions
Apr 16, 2024 by
CPI
Key Challenges and Tips for Merger Control Filing in China for Listed Companies
Apr 16, 2024 by
CPI
Key Point Review: China SPC Antitrust Judgments in 2023
Apr 16, 2024 by
CPI