The European Commission has cleared the creation of a joint venture between INEOS AG and China Petroleum & Chemical Corporation (Sinopec).
The deal was assessed under the EU Merger Regulation, which requires some mergers and joint ventures to be reviewed at EU level before they can proceed, the Commission announced on Wednesday.
The transaction relates mainly to high-density polyethylene, a commonly used plastic found in products such as bottles and piping.
The Commission said it concluded the arrangement would not raise competition concerns because it would have a limited impact on the European Economic Area, which includes EU countries plus Iceland, Liechtenstein and Norway.
Where to find the case details
The merger was examined under the simplified review procedure, which is used for cases the Commission considers unlikely to raise competition problems.
Further details are available through the Commission’s online competition case register under case number M.12543.
