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EU Accepts Conditions Japan’s DIC To Buy BASF Unit

 |  December 7, 2020

On Monday, December 7, EU antitrust regulators approved DIC’s bid for German chemicals group BASF’s pigments unit after the Japanese printing ink maker pledged to sell a US facility to address competition concerns, reported Reuters.

DIC announced the deal last year, paying €985 million for the business and taking on the unit’s net debt, which accounts for the rest of the agreed sale price of €1.15 billion (US$1.4 billion).

The European Commission stated that DIC agreed to sell its main manufacturing facility for pigments in South Carolina operated by its subsidiary Sun Chemical to allay concerns that the deal would reduce competition for the supply of certain pigments.

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