The European Commission has approved the creation of a joint venture called EPL Ltd. by Indorama and Blackstone under the EU Merger Regulation.
The venture will include Indovida India, with Indorama Netherlands B.V. — controlled by Thailand’s Indorama Ventures Public Company Limited — joining Singapore-based Epsilon Bidco Pte. Ltd., which is controlled by US investment firm Blackstone Inc., the Commission announced.
The deal covers the manufacturing and sale of plastic packaging products and PET materials.
PET, or polyethylene terephthalate, is a plastic commonly used for packaging, including drinks bottles.
The Commission said it did not expect the transaction to raise competition concerns because the companies would have a limited combined market position following the deal.
Simplified review
The transaction was reviewed under the Commission’s simplified merger review procedure.
Further details are listed in the Commission’s public case register under case number M.12457.
